Greens want strong leadership on housing in Budget 2016

Tomorrow’s Budget needs to announce a new, transformative plan to fix the housing crisis, the Green Party said today.

Finance Minister Bill English will deliver his eighth Budget tomorrow and it’s likely it will contain no significant new measures to address rampant speculation in the housing market or the lack of affordable homes being built.

“We’re becoming one of the only countries in the world that makes it easier for people to buy their second, third, or fourth house instead of their first,” Green Party finance spokesperson Julie Anne Genter said.

“National’s plans to fix the housing crisis have all failed. National has chosen to do as little as possible, rather than all that we can to help people into a home.

“Will Bill English finally do the right thing in his eighth Budget and fairly tax housing speculation?

“Budget 2016 must include strong new measures to address runaway house prices driven by property investors investing for tax-free capital gains and using financing costs to offset income elsewhere.

“Reserve Bank data shows that property investors now account for 40 percent of all house sales nationally — 42 percent in Auckland — and this number is still growing despite new Bright Line measures introduced in Budget 2015.

“Not enough new houses are being built, especially at the affordable end of the market.

“Budget 2016 must also include a commitment to stop National’s sell down of state houses and start urgently building affordable new homes.

“Families are sleeping in cars, under bridges, and in garages. Bill English needs to do all that he can in Budget 2016 to help these people.

“Eight years on, National needs to accept responsibility for our housing crisis and create a strong plan to address it rather than waste another year tinkering around the margins,” Ms Genter said.

Latest Finance Announcements

Story

Case for excess profit tax on banks clearer than ever

The Government should adopt an excess profits tax and use any revenue raised to help people make ends meet, following the rise in the Official Cash...
Read More

Story

Tax excess profits, don’t leave it to the good will of large corporations

The Green Party is once again calling on the Government to introduce an excess profits tax and use the money to support people, rather than relying...
Read More

Story

RBNZ report strengthens case for excess profit tax and more income support

A drop in household income from rising bank interest rates further demonstrates the need for an excess profits tax, the Green Party says.
Read More

Story

Green proposals to tax excess corporate profit

The Green Party has today put forward proposals to ensure large corporations profiteering from high inflation are taxed fairly and the money used t...
Read More

Story

Redesign the tax system to work for everyone

The high rate of inflation continues to show why we must design a fairer tax system that addresses inequality, the Green Party says. 
Read More

Story

Redesign tax to work for everyone

Evidence that shows Aotearoa has one of the worst tax systems in the world for reducing inequality needs urgent attention, the Green Party says. 
Read More