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

Green Party supports Budget 2021 which will help those in poverty

The Green Party supports the 2021 Budget which increases income support for New Zealanders living in poverty, and we’ll continue to push for a long...
Read More

Story

Green Party welcomes KiwiSaver fossil fuel and illegal weapons exclusion

The Green Party is welcoming the changes to KiwiSaver implemented today by the Government that require default providers to exclude investments in ...
Read More

Story

Greens welcome protections for Kiwis’ savings

The Green Party is welcoming the Government’s announcement that bank deposits up to $100,000 will be protected under new rules.
Read More

Story

Housing plan a start, but much more needed to meet the scale of the crisis

The Government’s housing announcement is a very small start but it doesn’t go far enough to genuinely meet the scale of the crisis.
Read More

Story

Greens announce 4 point plan to stop runaway housing crisis

The Green Party is calling for bold, transformational measures to stop the accelerating housing crisis that is locking New Zealanders out of a stab...
Read More

Story

Tax data exposes gross inequity between the wealthiest and poorest New Zealanders

Government data today shows that the wealthiest New Zealanders aren’t paying their fair share of tax, whilst everyone else chips in, Green Party sp...
Read More