Responding to NBR’s
report that Kainga Ora made an offer on
a property $8 million above its eventual sale price,
New Zealand Taxpayers’
Union spokesman Louis Houlbrooke
says:
“Our housing agency is acting like
it’s overfunded. First it bought a motel in Rotorua for
nearly double its CV, and now we learn of another
extraordinarily high offer on a property in
Auckland.”
“When Kainga Ora overpays for property
to build ‘affordable’ homes, it’s not making our
housing market more affordable. In fact, it’s increasing
housing costs. That fact is only hidden because the cost is
spread across millions of taxpayers.”
“Even when
Kainga Ora’s property bids fail, the agency’s aggressive
offers will be driving up bids from the private sector.
Higher purchase prices will translate to higher sale prices
once new housing is built.”
“If Kainga Ora
continues to spend like drunken, property-obsessed sailor,
Megan Woods will need to reign in its funding. A tighter
budget should see the agency relearn the importance of value
for
money.”
If you're using Scoop for work, your organisation needs to pay a small license fee with Scoop Pro. We think that's fair, because your organisation is benefiting from using our news resources. In return, we'll also give your team access to pro news tools and keep Scoop free for personal use, because public access to news is important!
Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else... More
Government: Concerns Conveyed To China Over Cyber Activity Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More
Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More
Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More
Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More