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


John Key must ‘get on with it’, not leave it to Reserve Bank

Grant Robertson

MP for Wellington Central
Finance Spokesperson


6 July 2016

John Key must ‘get on with it’, not leave it to Reserve Bank

John Key can’t just tell the Reserve Bank to ‘get on with’ fixing the housing crisis – he must act to tackle the rampant speculation in the housing market that has taken place under his watch, says Labour’s Finance spokesperson Grant Robertson.

“House prices are being forced up around the country by speculators here and overseas – as shown by QV figures yesterday putting average Auckland house prices at almost $1m.

“The Reserve Bank can’t fix this on its own. We have seen that LVRs are only a temporary band aid – they don’t fix the problem long term.

“The heavy lifting has to come from the Government. It is extraordinary that John Key has effectively said it’s the Reserve Bank’s job to tackle demand. He’s wrong. National has had years to ‘get on with it’ – and yet the housing crisis in New Zealand keeps growing.

“Labour would welcome moves by the Reserve Bank tomorrow to tackle speculation. But it has to be targeted at investors and not shut yet more first home buyers out of the market. Blanket LVRs or debt to income ratios are not the solution.

“The housing crisis needs a truly comprehensive solution. That won’t come from National. Only a Labour-led government will deliver that” says Grant Robertson.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election