We are now down to two weeks before Saturday, October 14, 2023 and the election day. But voting starts on Monday, October 2, and you can vote at any voting place in New Zealand. (On election day, all voting places will be open from 9am to 7pm.)
To help you make an informed decision, we have a policy comparison tool, an independent service we have offered since the 2005 general election. It is a straight comparison tool, organised by subject. It doesn't involve any compiler judgments, and only lists policy position components in the actual words of each party (and each policy is linked to its original full source).
In this run-up to election day we are featuring some summaries of party policies that directly affect the economy of New Zealand. We hope they help.
Today's focus is on housing. You can find these comparisons here.
ACT wants to reduce consent obligations when infrastructure projects use a Code of Practice to manage environmental effects. They will also change infrastructure funding, which includes sharing over a billion dollars of GST revenue with local councils and allow targeted rates to fund infrastructure on new developments. There are nine key points in our summary.
The Green Party focus is on ensuring all people have access to secure, affordable and good-quality housing. They will also introduce measures to fairly tax housing and land wealth, such as a Capital Gains Tax on all but the family home. There are seven key points in our summary.
Te Pati Maori will add a Capital Gain Tax on all property set at 2% of the appreciation per annum, among their four key points.
Labour takes an environmental approach to housing, working on a $4,000 rebate for households if they install rooftop solar panels. They will also fit 1000 Kainga Ora houses with solar panels. See their five key points. No wealth taxes, land taxes or CGT from them.
The National Party wants councils to zone land for 30 years worth of housing demand immediately and introduce a $1 billion fund for Build-for-Growth incentive payment for councils. There are three key points here. No wealth taxes, land taxes or CGT from them, either.
New Zealand First says they will continue to build more state-housing and provide low-cost government funding to local authorities for new elderly person housing and public rental housing projects.
TOP will remove the bright line test and allow tax deductibility of interest or landlords, and introduce a land value tax. See all six key points by following the links.
7 Comments
The cost of land in greenfield developments is the major factor. Land bankers with deep pockets playing the long game clean up when suburbia arrives and their land is rezone residential. TOP proposes a land value tax to encourage land bankers to sell it into the market. But that tax also hits everyone already in their home plus I don't think it will be that effective.
Why not amend the public works act to allow councils to acquire land at market rates just prior to rezoning for residential. They can then resell at a much lower than current prices.
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