The government has ruled out implementing a capital gains tax.(Story from Radio NZ)
Prime Minister Jacinda Ardern said the coalition had not been able to reach a consensus.
She said all parties in the government had entered into the debate with "different perspectives".
"After significant discussion, we have ultimately been unable to find a consensus. As a result, we will not be introducing a capital gains tax.
"While I still believe the capital gains tax would have made a difference, the Labour Party has now campaigned on this for three elections.
"It's time to accept that not only has a government that reflects the majority of New Zealanders not been able to find support for this proposal, feedback suggests there is also a lack of mandate among New Zealanders for such a tax also.