Parliament

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

 

Labour’s Renter’s Tax Confirmed

“The official advice the Government got on interest deductibility changes backs up the many stories ACT is hearing from landlords and the experts,” says ACT’s Housing Spokesperson Brooke van Velden.

“The Ministry of Housing and Urban Development’s advice to the Housing Minister was that the removal of interest deductibility could put rents up, force landlords to sell, and hurt renters.

“Denial of interest deduction ‘would add a cost of $4,125’ to the average landlord.

‘We expect most landlords may consider increasing rents’, said HUD.

“Some landlords are ‘likely to sell’ with potentially significant consequences for renters:

‘If a number of landlords choose to sell, the associated “churn” in the rental market can impose significant costs on renters…frequent moves can be detrimental to health and wellbeing. There is a risk that for some renters in the lower-priced parts of the rental market, that they will not be able to find a new rental property at a price they can afford. This could lead to either further pressure on emergency special needs grants, transitional and public housing, or to overcrowding to enable rent to be affordable.’

“Let’s be clear: The change to interest deductibility is a Renter’s Tax.

“All of the stories ACT is hearing at act.org.nz/housingstories confirm that.

“Landlords are telling us ‘I’ve kept rents below the market rate for several years, but these changes will force me to hike them, and I don’t know if my tenants will be able to afford it.’

“A majority of economists, academics and property experts believe the impacts of the Government’s housing changes will be borne by tenants.

“More than a dozen experts surveyed expect rents to increase due to higher tax bills faced by residential property investors.

“This divisive policy targets residential property investors, but it will actually hurt some of the most vulnerable people in New Zealand.

“Labour just doesn’t get it. We can’t tax and regulate our way out of a housing crisis. We need to make it easier for the private sector to build houses. The Government’s Healthy Homes rules, foreign buyer ban, KiwiBuild, and myriad other policies have all failed for the simple reason that they misdiagnose the problem.

“ACT’s answer is for the next generation to build like the Boomers. ACT would radically overhaul infrastructure funding, through a thirty-year partnerships with central government for each region. We’d then replace the Resource Management Act with legislation designed to facilitate home building, and get councils out of the building consent business.

“Rather than dividing, the Government should be uniting New Zealanders behind good ideas.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Yesterday’s Big Parliamentary Air Kiss To China

In order to obtain support from the two major parties, Act Party deputy leader Brooke Van Velden twice had to soften the language of her parliamentary motion yesterday condemning China’s persecution of the Uighurs. The key word “genocide” was deleted. Evidently, the kind of resolution passed by a conservative government in the UK proved to be far too tough for a centre-left Labour government and a centre-right National opposition to countenance. Yesterday, the two major parties were united in their fear of retribution from China... More>>

 

Public Services: Government Sets Pay And Workforce Expectations For The Public Sector

The Government’s Workforce Policy Statement issued today sets out its expectations for pay and employment relations in the Public Sector, the Minister of Finance and Minister for the Public Service say. “New Zealand has had an exceptionally successful ... More>>

ALSO:

Government: Budget 2021 Reprioritises Nearly $1 Billion

Hon Grant Robertson Deputy Prime Minister Minister of Finance The Government’s strong pandemic response and the better than expected economic recovery means not all the money allocated in the COVID-19 Response and Recovery Fund has been spent, ... More>>

ALSO:

Ardern: Speech To China Business Summit

Ladies and gentlemen, distinguished guests, ate marie, tena koutou katoa, good morning. I am very happy to be here with you once again at my fourth China Business Summit. ... More>>

PM: Statement On The Speaker And Annual Review Debate

“The serious issue of alleged sexual assault and harassment at Parliament was poorly managed and inappropriately politicised last night. The tone of the debate did not reflect well on Parliament as a whole,” Prime Minister Jacinda Ardern said. ... More>>

Parliament: Mallard Fails To Give Taxpayers A Straight Answer

Trevor Mallard has confirmed he is unfit to be Parliament’s Speaker by failing to answer several important questions relating to the false rape accusation saga that cost taxpayers more than $330,000, Shadow Leader of the House Chris Bishop says. ... More>>

Local Government: Independent Review To Explore Future

Local Government Minister Nanaia Mahuta says an independent review of local government will explore how councils can maintain and improve the wellbeing of New Zealanders in the communities they serve long into the future. More>>

ALSO:

PM Ardern And PM Morrison: Commencement Of Two-Way Quarantine-Free Travel Between Australia And New Zealand

Joint Statement by Prime Ministers Scott Morrison and Jacinda Ardern Commencement of two-way quarantine-free travel between Australia and New Zealand Today, Australia and New Zealand have fulfilled their commitment to establish two-way quarantine free ... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels