FEBRUARY 15 2019

The Reserve Bank’s analysis that Kiwibuild is crowding out private building, along with reports of minimal interest from buyers, shows yet again why Kiwibuild should be abandoned, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union spokesman Louis Houlbrooke says, “The Reserve Bank’s boffins say that for every ten Kiwibuild houses built, up to seven and a half fewer private sector houses are constructed.”

“It’s not too late to stop the spending, accept Kiwibuild as a sunk cost, and redirect the Government’s efforts to solutions that won’t cost the taxpayer an arm and a leg. For starters, the Minister could scrap land use regulations, helping the private sector build homes, instead of trying to muscle in on its business.”

ENDS

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