Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Capital gains tax will not increase affordability

John Key MP
National Party Finance Spokesman
31 July 2006

Capital gains tax will not increase affordability

A capital gains tax on all property except the family home won’t help make housing more affordable, says National’s Finance spokesman, John Key.

“The Greens have argued that a capital gains tax would make houses more affordable, but it is a delusion.

“Such a tax has not made housing more affordable in countries that have introduced it, such as Australia. Nor has it done anything to alter the normal cycles of the housing market in those countries.

“National opposes a capital gains tax on property. It will add to the cost of capital, and therefore drive up the cost of rents. And internationally, house prices have been rising in countries whether they have a capital gains tax or not.

“A significant driver of the cost of housing in New Zealand cities is because of the lack of land for new developments – something that is driven by the expensive hoops developers have to jump through under the Resource Management Act.

“The Building Act has also imposed much higher costs on developers and builders.

“If the Government started addressing those issues then that would ease some of the pressure on housing supply, and therefore the price.

“If the Government is committed to seeing more New Zealanders own their own homes, they need to address these issues, not slap yet another tax on New Zealanders.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

AMA: Scoop's 'Invisible Paywall'

Operation Chrysalis: The Final Countdown - Thanks & There's Still Time To Pledge

Phew! We are now counting down the hours to the end of this crowd-funding campaign at 11pm on Sunday. Thankyou to all those Scoop readers and supporters who have pledged already. You have been awesome. But this is not over yet. More>>

 
 

PARLIAMENT TODAY:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news