Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

QLDC asks Govt to pause on Overseas Investment Amendment

QLDC asks Government to pause on Overseas Investment Amendment Bill

Tuesday 23 January 2018. For immediate release

Queenstown Lakes District Mayor Jim Boult has today led a submission on behalf of Queenstown Lakes District Council addressing Government’s proposed Overseas Investment Amendment Bill.

“QLDC has long championed housing affordability within the district, and developed a number of innovative programmes to address this issue. It goes without saying that we definitely support the intent behind this Bill.”

“However the Bill’s fundamental position is that the affordability issue is driven by overseas investors. We contend this belief is misplaced and we’re asking Central Government to take more time for further research and analysis,” said Mayor Boult.

In its submission, QLDC has outlined why this Bill, which primarily targets overseas property investors, matters to the Council and ratepayers. It also provides a comprehensive list of recommendations.

“We have the fastest growing population in New Zealand with a significant proportion of that growth coming from international migrants. The district’s economy relies heavily on employees coming from overseas. Many of these are experienced professionals with families who need the opportunity to invest in a home otherwise attracting the skills we desperately lack in the district will be impossible,” said Mayor Boult.

QLDC’s submission reflects that little evidence exists to support the claim overseas buyers are having an effect on house prices, as between July and Sept last year, only 3.25% of all property sales nationally were to overseas buyers, dropping to 2.25% if Australians were excluded from these statistics.

QLDC contends that the high number of second homes in the district (typically owned by Aucklanders and Australians) could be contributing more significantly to the increase in house prices than overseas buyers.  Mayor Boult believed the Bill does not address the significant role these second home buyers play in the affordability problems faced by local residents and further research is required into this and other possible contributory factors.

“We’ve learnt from our own Housing Affordability Taskforce that there is no easy, single answer to this complex issue. We don’t really understand the impact this Bill will have on the housing market, our wider economy and international reputation if it is passed in its current format,” said Mayor Boult.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Whether Trump Is Likely To Be Impeached

'Tis the season to be jolly, and for wrapping a plea bargain under the Christmas tree for all ye formerly merry, Trump-connected gentlemen.

Reportedly, Michael Cohen, Paul Manafort and Michael Flynn have all been co-operating with the probe led by special counsel Robert Mueller.

Flynn has done 19 interviews so far. So what chance has the Trump presidency got of surviving, all things considered? More>>

 
 

Dealing Crackdown, Addiction Support: Government Action On Synthetics

The NZ Drug Foundation has welcomed the Government’s response to synthetic drug deaths. The response strikes a balance between giving law enforcement the tools they need to target criminal networks and changing drug law to make it easier for people to access help when they need it. More>>

ALSO:

Strategy Committee Unanimous: Wellington To Forge Ahead With Convention Centre

The three-storey Cable Street building, with around 18,000-square metres of floor space, will comfortably be able to host 1500 people for conventions. It includes a 1651sq m exhibition area that will attract international exhibitions too big for nearby Te Papa and provide an always-changing visitor attraction. More>>

ALSO:

Surveying The Surveillance: First IGIS Review Of Warrants Under New Act

The report sets out the Inspector-General’s interpretation of the new warrant provisions under the ISA and her expectations of the GCSB and NZSIS when they prepare warrant applications. More>>

SSC: 2018 Public Service Workforce Data Published

State Services Commissioner Peter Hughes has published the 2018 Our People, Public Service Workforce Data , which shows the Public Service is making significant progress in important areas. More>>

ALSO:

Sinking Cap: Auctions, Permanent Forests, Added To ETS

The move to auctions, signalled in an August consultation paper, will help put a cap on the number of emission units available over time. Annual announcements, looking forward five years, will help provide certainty for scheme participants, she said. More>>

ALSO:

Joint Select Committee Report: Achieving Smokefree 2025

In a historic first for select committees, the Māori Affairs Committee and the Health Committee presented their joint report on achieving the Smokefree 2025 goal to the House on Tuesday, 11 December 2018. More>>

"Shared Interests And Democratic Values": Peters To Visit USA

Deputy Prime Minister and Foreign Affairs Minister Winston Peters will travel to Washington D.C. for talks with US Secretary of State Michael R. Pompeo and other senior members of the US Administration. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels