National rules out bed tax and bank tax but stays silent on fuel excise increase

National is promising no new taxes if re-elected in November 2026. Finance spokesperson Nicola Willis confirmed the party has ruled out a bed tax and a bank tax — two of three new taxes Prime Minister Christopher Luxon had previously flagged. The announcement was silent on the third, a possible fuel excise increase, leaving that question open. Luxon said taxes would be a "defining theme" of the election.