Government action to cool house prices still needed despite Reserve Bank change

The Green Party welcomes the change in the Reserve Bank’s remit to consider the impacts on housing when making financial decisions, but housing affordability shouldn’t be left to the Reserve Bank, Green Party Co-leader and Housing spokesperson Marama Davidson said today.

“It should not be left to the Reserve Bank to solve our housing crisis.

“The remit change is good, but there are other tools in the tool box that Government must use to ensure that house prices and rents don’t continue to climb.

“The Reserve Bank has to make trade-offs with its other objectives, the Government itself can and must do more.

“This includes a rapid upscaling of public and community housing builds, as well as implementing a wealth tax so that New Zealand’s wealthiest can’t amass untaxed wealth that is plunged into property speculation.

“The Green Party will continue to push for a comprehensive approach to housing affordability so that everyone has a stable home to live in”.

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