MEDIA RELEASE

CCC SUBSIDISING HOUSING DEMAND MISSES THE POINT

19 APRIL 2017
FOR IMMEDIATE RELEASE

Christchurch City Council’s decision to spend $3 million of ratepayers’ money to join the Government in establishing a second mortgage scheme for home ownership misses the point in New Zealand’s housing crisis, says the Taxpayers’ Union. It’s Executive Director, responding to the news says:

“Talk about missing the point. Instead of fixing housing supply and freeing up Council planning and red tape restrictions on the building of houses in Christchurch, the Council is throwing ratepayer money onto the fire to drive up demand.”

“While no one could criticise the Council for using the $3 million election year give-away from central government, the decision to match the contribution with $3 million of ratepayer money is disturbing. It kicks the can down the road for what is needed to fix housing affordability issues – that is supply.”

ENDS

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