Labour puts Envy Politics over Economics

“The Labour Party’s policy of ring fencing and negative gearing will only pass costs onto renters in a tight market,” says ACT leader David Seymour.

“As renters well know, the rental market is a tight one, it is a landlord’s market. Renters have few options, so landlords can pass costs on to tenants easily.

“Labour’s policy is unbelieveably stupid, because it pushes up costs without generating more homes. It is a recipe for rent hikes, putting the most vulnerable out on the streets.

“Unfortunately the Labour Party is still driven by envy first and economics second, it is highly disappointing.

“The only way to improve conditions for renters to increase the overall supply of housing, creating a renter’s market where it is the renters who have the options.

“ACT advocates serious policy reform that would do just that. Replace the RMA in cities, and fund infrastructure by giving councils half the GST on construction that they consent. This policy would get homes built and improve tenant’s options, whereas Labour’s policy will only price more people out of the market as landlords pass costs on to the

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