Govt must make closing money laundering loophole priority

The National Government must make it a top priority to close a loophole allowing criminals to launder money through the housing market, the Green Party said today.

“The National Government has mishandled the housing crisis to such an extent that even criminals are using the housing market to their advantage, while families are locked out,” said Green Party Co-leader Metiria Turei.

“The Minister sat on her hands for a year before any policy work to close the loophole started, which is another year in which families have suffered.

“During the Homelessness Inquiry hearings in recent weeks, we’ve heard how families have been locked out of homes because of high rents and low incomes, which this Government has perpetrated.

“Now, the Government is letting criminals get away with laundering their money by buying properties, when it should make work to stop it a priority.

“How many kids have suffered living in cars and in over-crowded temporary housing while the Minister allowed this to happen?

“The Green Party in government will impose a capital gains tax on houses, except the family home, to address the housing crisis.

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