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

 

Labour Seems To Have Finally Realised There Is A Housing Crisis In New Zealand

The housing crisis right now in New Zealand is one of our biggest contributors to income and wealth inequality. With the explosive increase in sales and prices going on right now, those with houses or able to buy them for whatever reason, have their income and or wealth rapidly increasing, and those who are not on the property ladder are falling further and further behind, says Peter Malcolm spokesperson for “Closing the Gap” the “Income Equality” organisation. If allowed to continue it will further the damage now being done to the fabric of our society.

So it is pleasing to see Grant Robertson the Minister of Finance asking the Adrian Orr the Reserve Bank Governor if he can help find a solution. So Robertson is at least recognising there is a problem.

As to solutions, there are many as the problem is multi facetted. Solutions include: building more houses—some are being built but not enough; shifting investment in houses to much more productive industries—this can be done in many ways but the most obvious are changes to the tax regimes like strengthening and widening the capital gains tax, bringing in wealth and or asset taxes on housing; freeing up more land for housing—time to do this seriously; risk free rate of return taxes on housing; bringing in land taxes to stop land-banking; encouraging the building and importing of kitset houses; improving the processing and reducing the costs of resource consents for building accommodation: ensuring that local bodies have appropriate district plans for build more accommodation and there are others.

The problem with many of the solutions is that the Government has ruled them out particularly changes to the tax regime.

After months of denial from both Ardern and Robertson about the problem and possible solutions we desperately hope that the Reserve Bank Governor will tell them that the remedy is in their hands. We desperately hope that the Government will identify the best solutions and recognise the political capital which they have in plenty and quickly make the changes required. We cannot this crisis to continue any longer because of the damage it is doing to our society says Malcolm

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Demise Of The Tokyo Olympics

As the Covid vaccines roll out around the world, the Tokyo Olympics are looming as a major test of when (and whether) something akin to global normality can return – to international travel, to global tourism, to professional sport and to mass gatherings of human beings. Currently though, it looks like a forlorn hope that Japan will be able to host the Olympics in late July. Herd immunity on any significant scale seems possible only by December 2021, at the earliest... More>>

 

New Zealand Government: Cook Islanders To Resume Travel To New Zealand

The Prime Minister of New Zealand Jacinda Ardern and the Prime Minister of the Cook Islands Mark Brown have announced passengers from the Cook Islands can resume quarantine-free travel into New Zealand from 21 January, enabling access to essential services such ... More>>

ALSO:

A New Year: No politicians at Rātana in 2021

Annual celebrations at Rātana pā will be different this year, amid a decision to hold an internal hui for church adherents only… More>>

ALSO:

Government: Pre-Departure Testing Extended To All Passengers To New Zealand

To further protect New Zealand from COVID-19, the Government is extending pre-departure testing to all passengers to New Zealand except from Australia, Antarctica and most Pacific Islands, COVID-19 Response Minister Chris Hipkins said today. More>>

ALSO:

Covid: Border Exception for 1000 International Students

The Government has approved an exception class for 1000 international tertiary students, degree level and above, who began their study in New Zealand but were caught offshore when border restrictions began....More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels