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...

The Green Party today announced a plan to get half of New Zealand’s freight moving by rail and sea within 10 years, and dramatically reduce the number of dangerous trucks clogging up New Zealand’s roads. “National’s single-minded focus on a few expensive highways is downright irresponsible, and will ultimately force more and more trucks onto New Zealand roads,” said Green Party transport spokesperson Julie Anne Genter. “National spends five times more on a few low-value motorways than it does on...

Taking more tax cuts off the table was the right move for Bill English to make in his pre-Budget speech today, the Green Party said. “It’s good that the Government has realised that tax cuts aren’t the kind of medicine our economy needs right now,” Green Party finance spokesperson Julie Anne Genter said. “National’s tax cut bribes have historically benefitted people on high incomes, and come at the expense of fixing problems like child poverty and the housing crisis. “There...

It’s time for the Government to act to solve the housing crisis as the Reserve Bank again called for stronger Government action, the Green Party said. “The Government is moving too slowly and cautiously on housing, but actually there are many things it could do right now that would make a difference, including a proper capital gains tax (excluding the family home),” Green Party finance spokesperson Julie Anne Genter said. “The Government’s blaming everyone but itself for the housing crisis,...