Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

New Helen Clark Foundation Report Urges Capital Gains Tax

A new report into New Zealand's shortage of affordable housing has called for a capital gains tax.

Photo: RNZ

The study by the Helen Clark Foundation said a decades-long boom in property investment had driven up housing and land prices at the expense of families and people's basic need for shelter.

Dr Jenny McArthur wrote the report and told RNZ's Morning Report a capital gains tax must be back on the agenda to tackle the affordability crisis, as well as debt-to-income limits.

"I understand it's politically challenging, but I think it's so important that we confront the issue that if prices are not brought down the impact on our society - which is already profound and hugely damaging - will only get worse," she said.

McArthur said policies should target untaxed profits from speculative housing investment, as well as offering affordable housing to low-income households.

However, the Property Investors' Federation said the push for a capital gains tax was "misguided."

Executive officer Andrew King said the proposal would not improve the situation and should not be supported.

"Today's proposal would be particularly hard on those who have purchased their first home over the last few years," he said.

"If house prices fall these young people could easily see their equity disappear and banks call in their loans."

© Scoop Media

 
 
 
Top Scoops Headlines

 

The Conversation: Rogue Poll Or Not, All The Signs Point To A Tectonic Shift In New Zealand Politics

Richard Shaw AAP(various)/NZ Greens (CC-BY-SA)/The Conversation Strong team. More jobs. Better economy. So say the National Party’s campaign hoardings. Only thing is, last Sunday’s Newshub-Reid Research poll – which had support for the Labour ... More>>

Dunne Speaks: It's Time For Matariki Day

The period of Matariki, the celebration of the Māori New Year, which began earlier this week, is being celebrated increasingly as an important national event. While many other countries have their own form of New Year celebrations, Matariki is uniquely ... More>>

Gordon Campbell: On Why We Shouldn’t Be Pushed Into Re-Opening Our Borders

I believe in yesterday as much as Paul McCartney, but it was bemusing to see the amount of media attention lavished last week on the pandemic-related musings by former government science adviser Sir Peter Gluckman, former Prime Minister Helen Clark ... More>>

Gordon Campbell: On The Media Collusion With National’s Attack Lines

For most of the past week, any consumer of this country’s management of Covid-19 would think New Zealand was actually Brazil, or Texas. The media language has been full of claims of “botches” at the border, and laxness and inexcusable errors ... More>>

The Coronavirus Republic: Three Million Infections And Rising

The United States is famed for doing things, not to scale, but off it. Size is the be-all and end-all, and the coronavirus is now doing its bit to assure that the country remains unrivalled in the charts of infection . In time, other unfortunates may well ... More>>

Binoy Kampmark: Altars Of Hypocrisy: George Floyd, Protest And Black Face

Be wary what you protest about. The modern moral constabulary are out, and they are assisted by their Silicon Valley friends in the Social Media club. Should you dare take a stand on anything, especially in a dramatic way, you will be found out ... More>>

Binoy Kampmark: Welcome Deaths: Coronavirus And The Open Plan Office

For anybody familiar with that gruesome manifestation of the modern work place, namely the open plan office, the advent of coronavirus might be something of a relief. The prospects for infection in such spaces is simply too great. You are at risk from ... More>>


Binoy Kampmark: Why Thinking Makes It So: Donald Trump’s Obamagate Fixation

The “gate” suffix has been wearing thin since the break-in scandal that gave it its birth. Since Watergate, virtually anything dubious and suggestive, and much more besides, is suffixed. Which brings us to the issue of President Donald Trump’s ... More>>