National Eyes Fuel Excise, Accommodation Levy, Bank Tax for Possible Changes

Prime Minister Christopher Luxon has hinted at possible tax changes on businesses in New Zealand. Speaking to Mike Hosking on Newstalk ZB, Luxon confirmed that National is considering increases to fuel excise, an accommodation levy, and bank tax settings.

Luxon emphasized that no decisions have been made, but the acknowledgement is significant. Fuel excise has not risen since 2020, meaning six years of inflation have eroded its real value. Luxon stated that legislated increases would likely be delayed, but conceded that 'somewhere in the next term fuel excise would have to increase in order to fund roading programmes.'

The bank levy is already law, introduced as part of Budget 2026. Finance Minister Nicola Willis framed it as a normal practice, consistent with Australia, Canada, and the UK. The estimated revenue over four years is $209 million.