PM's Housing Announcement Just "Window-Dressing"

Democrats for Social Credit Deputy Leader and Regional Development Spokesperson Chris Leitch, has labeled the Prime Minister’s announcement of a capital gains tax on property speculation “minor window-dressing”.

The new measure will be likely to make “barely a ripple" amongst property speculators in the Auckland market, and will do nothing to quell the runaway artificial price inflation.

The announcement proves that the Prime Minister is not serious about dampening the Auckland market and is more interested in looking after the people most likely to fund National’s next election campaign.

The real problem is that the Government has abandoned the provinces and has allowed Auckland to become like a giant vacuum cleaner hoovering up resources and jobs.

I personally know of numerous people who have left provincial towns because they cannot find a job, and have been forced to move to Auckland to get one. They would be happy to return if jobs were available.

The Government needs to get serious about putting incentives in place to attract businesses to move to the provinces. Tax holidays, rates reductions, ultra fast broadband, decent railways, improved roads, research and developments grants, and venture capital are just a few of the options that should be offered to businesses willing to re-locate or start up in the provinces.

New immigrants could then be given greater incentives to settle in the regions rather than all heading for Auckland.

I predict there will not be a single worthwhile thing in the budget that will address the continuing run down of the country’s provincial towns, Mr Leitch said.

ends

© Scoop Media