Property investors’ lobby groups have been up in arms this week about Labour and Greens’ plans to close tax loopholes and fix the housing market. That’s probably a good thing. Like investors in any other sector of the economy, they expect to make money – but they have preferential tax treatment that investors in other […]
The charade of this Government’s sound economic management is unraveling. Misleading GDP figures, pumped up by property speculation and high immigration, have given the impression that all is well, masking our continued productivity decline compared to OECD countries. In fact, we are near the top of the OECD in hours worked, but near the bottom […]
This housing crisis is just the latest consequence of a Government who puts the interests of the few wealthy people above the needs of NZ families.
On 1 October, the Government’s Bright Line Test came in to force, despite the fact the legislation has yet to be passed into law. It is still being considered by the Finance and Expenditure Committee. When it is enacted, sometime before the end of the year, it will be retrospective. This is National’s too-little-too-late attempt […]
Both the Treasury and IRD have been advising the National Government on the benefits of a capital gains tax. Documents released to the Green Party under an Official Information Act request show that John Key has been selective with the facts about the advice he’s received on a capital gains tax. IRD produced advice for […]
In my speech to our party conference last week, I compared John Key to Robert Muldoon. This has provoked a furious response from the Right who accuse me of being a migrant who has no right to speak about Muldoon. So lets have a look at it a bit more rationally. Obviously Key isn’t exactly […]
Maybe. Yesterday, the Reserve Bank signalled enough concern about rising house prices in Auckland that they spooked commentators with the possibility of early rises in the Official Cash Rate (OCR) and a more certain resolve to use complementary tools, like loan-to-value ratios. I have more hope following this statement that the Reserve Bank has learned […]
This week, the Victoria University Business School hosted renowned international tax expert, Dr Alan J. Auerbach. He contrasted the work and findings of our own recent Tax Working Group with the findings of the UK Mirrlees Tax Review, and the Australian Henry Tax Review. While he saw many positive parallels with the three reviews, he […]
Liam Dann continued his series of defending the status quo on banking and monetary policy (here and here) this week with his column on Reserve Bank policy. While I appreciate Dann’s contribution to the discussion, his failure to offer a single positive solution effectively denies the huge difficulties our productive sector is facing or the […]
The OECD has confirmed what we already suspected with its ground-breaking report on inequality – Divided We Fall. The gap between rich and poor has grown exponentially since the 1980s in most developed countries – but none more so than in New Zealand.