The Green Party has today launched a new campaign to get rail to Albany and Takapuna on Auckland's North Shore by 2030. In March, Transport Minister Simon Bridges announced that work would restart on a second harbour crossing. However, official briefings released in June show the NZ Transport Agency plans to safe-guard the harbour crossing for a road-only tunnel, meaning the option of connecting rail to the Shore may be shelved completely. “The Green Party is calling on the Government...

Nick Smith’s next step must be action to fix the housing crisis, now he’s accepted that Auckland is unaffordable for first home buyers, the Green Party said. “New Zealand has gone through the five stages of grief in the housing crisis, and now that the Building and Housing Minister has reached the fifth stage – acceptance – it’s time for him to take action,” Green Party finance spokesperson Julie Anne Genter said. “Nick Smith has finally recognised what people in...

Lack of Government action to curb housing speculation has forced the Reserve Bank to announce new nationwide investor loan-to-value restrictions (LVRs) restrictions, the Green Party said. The Reserve Bank has today released a consultation paper proposing changes to LVRs to lessen the risks to financial stability arising from rapidly rising house prices. These proposed new restrictions would take effect on 1 September 2016. “The Green Party supports Reserve Bank actions to take some of the heat out of the property...

The National Government’s about-turn on foreign trusts has been welcomed by the Green Party today in the wake of the Shewan Inquiry that found that foreign trusts were a likely vehicle for tax abuse and need to be opened up with increased disclosure and reporting requirements. The Green Party has been pushing for similar disclosure measures around foreign trusts since 2012 while the IRD had made repeated attempts to warn the National Government of the risks of them in 2013...

Comments by the Reserve Bank today that the Government should consider ‘further reducing the tax advantage of investing in residential housing’ highlight that the Government could be doing much more to fix the housing crisis, the Green Party said. “John Key said earlier this week the Reserve Bank should ‘get on’ with fixing the housing crisis, but the Bank has put the spotlight back on the National Government’s inaction,” Green Party finance spokesperson Julie Anne Genter said. “When the Reserve...

John Key’s call for tougher lending controls for property speculators again demonstrates a Government in crisis mode over the hugely damaging housing price bubble, the Green Party said today. Prime Minister John Key yesterday signaled to the Reserve Bank that it should quickly extend existing loan-to-value ratio restrictions to investors to help slow house price rises. The latest monthly QV House Price Index shows values nationwide are now rising at the fastest rate since 2004, with the average house value...

The National Government’s decision to scrap two planned rail lines in Auckland shows it is giving up on a city-wide rail network in Auckland, and on thousands of commuters who sit in traffic jams every single day, the Green Party said today. 

The Government’s National Policy Statement (NPS) on urban development is good in theory, but won’t build the affordable houses Aucklanders are crying out for, the Green Party said today. “Aucklanders need more homes now, as well as good blueprints for how to build neighbourhoods in the future,” said Green Party finance spokesperson Julie Anne Genter. “New Zealanders are looking to the Government for solutions to the housing crisis, and all they’re seeing today is Nick Smith waving a planning document...

The Green Party is welcoming the long awaited start to construction of the City Rail Link (CRL) today as the first step to creating a faster and cleaner transport system in Auckland. “The CRL is great for Auckland and shows what can be done when people get behind a transformative project,” Green Party transport spokesperson Julie Anne Genter said. “Aucklanders don’t want to spend their time sitting in traffic jams, and we know that better investment in rail, bus, cycling,...

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...