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


RBNZ: KiwiBuild won’t contribute to housing stock in 2019

The Reserve Bank has landed another blow on KiwiBuild, predicting it won’t add to the housing stock this year and will reduce private sector building over the coming years, says ACT Leader David Seymour.

After forecasting last August that KiwiBuild would begin to add to overall residential investment from the middle of 2019, the Reserve Bank now assumes the net contribution of KiwiBuild will be almost zero this year.

The Bank also says that most of the houses delivered through KiwiBuild will be offset by crowding out of private sector developments over the next few years.

“It’s not surprising the Reserve Bank predicts KiwiBuild won’t add to our housing stock when the Government is just buying existing homes, putting a KiwiBuild logo on them, and adding a set of rules around who can buy them.

“KiwiBuild is a distraction from the real problem of high land prices which could be alleviated by cutting planning red tape.

“Labour needs to introduce a package of reforms that will free up building everywhere.

“It can achieve this by replacing the Resource Management Act with a law as set out by the Productivity Commission in Better Urban Planning. Such a law would set out infrastructure plans and let people build around it without restrictive zoning such as the municipal urban boundary.

“The Government should let councils issue targeted rates to pay for infrastructure for new developments and, if they really want to see building go ahead, get councils out of the building consent and inspection business. Councils are the bane of a builders’ existence and they didn’t stop leaky buildings anyway. Mandatory private insurance of new builds would be better.”

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Commerce Commission: Retail Fuel "Not As Competitive As It Could Be"

The Commission has outlined some options it considers could improve competition. There are two broad sets of options it thinks may have the potential to help create a competitive wholesale market. These are:

• Greater contractual freedom to make it easier for resellers to switch between suppliers; and
• Enabling wider participation in the majors’ joint infrastructure, notably the shared terminals and supporting logistics involved in their borrow-and-loan system.
Further options, including improving the transparency of premium petrol prices, are discussed in the draft report. More>>


Promises: Independent Election Policy Costing Unit A Step Closer

The creation of an entity to provide political parties with independent and non-partisan policy costings is a step closer today, according to Finance Minister Grant Robertson and Associate Finance Minister James Shaw. More>>


School's In: Primary And Intermediate Principals Accept New Offer

Primary and intermediate school principals have voted to accept a new settlement from the Ministry of Education, which includes entrenched pay parity with secondary principals. More>>


IPCA On 'Rawshark' Investigation: Multiple Police Failings In Hager Searches Confirmed

The Independent Police Conduct Authority has found that the Police's unlawful search of Nicky Hager's property in October 2014 resulted from an unwitting neglect of duty and did not amount to misconduct by any individual officer... More>>


Broadcasting Standards: Decisions On Coverage Of Mosque Attacks

The Authority upheld one of these complaints, finding that the use of extensive excerpts from the alleged attacker’s livestream video on Sky News New Zealand had the potential to cause significant distress to audiences in New Zealand, and particularly to the family and friends of victims, and the wider Muslim community. More>>

PM's Post-Cab: Bad Mail

Cabinet was updated on the process around prisoners sending mail, following the accused Christchurch gunman sending letters that "should have been stopped". All mail of "high concern prisoners" will now be checked by a specialist team and a changes to the legal criteria for witholding mail are expecting to go to a cabinet committee in this parliamentary session. More>>

Welfare: Ongoing Drug-Test Sanctions Contradicts Govt’s Rhetoric

Reports that two-thirds of beneficiaries who fail drug tests are still having their benefit sanctioned contradicts the Government’s so-called health approach to drugs. More>>


Welfare: More Measures To Help Those Facing Homelessness

Ministers have announced $54 million in Government funding for initiatives which will support at-risk individuals and whānau to stay in their existing tenancies. The funding will also provide additional wrap around services. More>>


Corrections: New Strategy On Māori Reoffending And imprisonment

Authentic co-design with Māori, incorporating a Te Ao Māori worldview, and greater connectedness with whānau are key elements of Hōkai Rangi, Corrections’ new departmental strategy designed to address the long-term challenge of Māori reoffending and imprisonment. More>>





InfoPages News Channels