Ignore the advice from experts, manipulate the political process, slip in a quick tax increase, and voilà, Labour has more of our money to spend at the cost of first home buyers.
Despite the regulatory impact statement suggesting such a move could push up rents and house prices, despite the IRD opposing the change and despite our own Treasury’s ambivalence towards the move.
Labour has slipped an amendment into an existing bill, bypassing the usual political process to force their own flawed agenda onto New Zealand.
Yesterday Infometrics provided evidence that Kiwibuild is a joke: more punitive property taxes are on the way and foreign investment has been banned.
Sit back people… watch investors stop building, watch us pull houses off the market and watch rents increase with the new costs of being a landlord.
The government just made your dreams of home ownership a little bit further away.
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