Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Labour Party Might Restrict Foreign Buyers

Labour Party Might Restrict Foreign Buyers

The Labour Party is to consider restricting foreign ownership of real estate.

The Party’s Finance Spokesman, David Parker, speaking on TV3’s “The Nation” said the party might follow some overseas examples.

“We’re worried about these issues,” he said.

He said the party wasn’t ready to announce its precise policies.

“But the Greens have come up with one idea which is to introduce stamp duty on foreign purchasers to make it a bit harder for them to advantage in New Zealand. 

“There are other options around but I'm not going to go into that further today.”

Mr Parker made his comment sin the wake of revelations on the progamme that Chinese buyers could source Chinese bank funding secured against Auckland properties at a lower rate of interest than they would pay in New Zealand.

Former Reserve Bank Governor Don Brash said that meant buyers could access money more cheaply than they could from a New Zealand finance company.

“If Chinese banks are making those loans they're presumably taking a currency risk on the New Zealand dollar, or perhaps the buyer is taking a currency risk on the New Zealand dollar<” he said.

“It isn't I suspect a riskless activity for either the bank or the home buyer.”

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Government: Traffic Light Levels Announced


The levels at which different parts of New Zealand will move forward into the COVID-19 Protection Framework this Friday have been announced. Northland, Auckland, Taupō and Rotorua Lakes Districts, Kawerau, Whakatane, Ōpōtiki Districts, Gisborne District, Wairoa District, Rangitikei, Whanganui and Ruapehu Districts will move in at Red... More>>

ALSO:

Gordon Campbell: On Why An Attack On Iran Is Back On The Agenda


Reportedly, Christopher Luxon has the edge on Simon Bridges in National’s leadership contest although there is no firm evidence for that hunch. So, one hesitates about joining a media echo chamber that amplifies Luxon’s chances ahead of the 3pm caucus meeting today. You know how it goes: Luxon doesn’t quite have the numbers, so his people start talking to the media to make him seem like the smart bet. Or even perhaps: Luxon hasn't got the numbers, and his people start talking to the media to talk up his support so that he gets a nicer consolation prize... More>>




 
 

Government: Delivers Reactivation Package As Aucklanders Reconnect For Summer
A new support package will help revive economic, social and cultural activities in our largest city over summer, and ensure those in hardship also get relief. The Social Development and Employment Minister Carmel Sepuloni and the Economic and Regional Development Minister Stuart Nash... More>>



Government: Crown Accounts Reflect Strong Economy Amid Pandemic

The Government’s financial accounts continue to reflect an economy that has performed better than expected, despite the latest Delta COVID-19 outbreak. The Crown accounts for the four months to the end of October factors in the improved starting position for the new financial year... More>>

ALSO:

National: Christopher Luxon Elected Party Leader
Christopher Luxon has been elected Leader of the New Zealand National Party, alongside Nicola Willis as Deputy Leader. “It is a tremendous privilege to lead our great party, and I thank my colleagues for the confidence they have placed in me,” Mr Luxon says... More>>

Waitangi National Trust: Waitangi Week
The Waitangi National Trust has decided there will be no in-person events at Waitangi Treaty Grounds during Waitangi Week 2022. Under the COVID-19 Protection Framework it would be practically impossible to safely proceed with the usual events of Waitangi commemorations... More>>


Freedom Camping: Making Sure People Are Up To Play With Changes
People interested in finding out how the proposed improvements to freedom camping might affect them are being invited to an information-sharing webinar... More>>

AUT: Aucklanders Are Less Concerned With Covid
In reaction to commentary that Aucklanders are at breaking point after more than 100 days in lockdown and that compliance with the rules is under threat, AUT Emeritus Professor of Sociology Charles Crothers says... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels