Monday, 29 May 2017, 11:41 am Press Release: ACT New Zealand
$360 million better spent on fidget spinners
The
Government shouldn’t require advice from officials to realise pumping
$360 million of taxpayer money a year into the rental market
will drive up prices, says ACT Leader David
Seymour.
“It’s just basic economics. Without a
corresponding increase in supply, increasing subsidies just
gives renters the chance to bid up prices even
higher.
“It’s like turning up to an auction and giving
everyone a hundred grand. The seller, or in this case the
landlord, laughs all the way to the bank.
“And by making
housing a more profitable investment, actual purchase prices
will go up too. It’s an own goal for a Government that
should be focused on cutting regulation to get
house-building up to speed with demand.
“Instead, the
Government is spending money to do harm. The Government
would literally be better off spending the $360 million on
fidget spinners for every New Zealander.
“The Government
is increasingly turning to handouts as the solution to every
problem. A stronger ACT will whip National back into
shape.”
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