When the details of this policy were released, it really didn’t pass the sniff test. It seemed to rely on a huge increase in foreign buyers, above pre-ban levels, and ignored any potential reduction in sales due to the tax itself.
It seemed to rely on a huge increase in foreign buyers, above pre-ban levels
Er, maybe this is the unstated part of their plan? Have a massive housing sell off to wealthy non residents?
We’ve now got both Labour and National having policy torn apart by economists.
Awesome.
We need that thing they have some places in the US where you can write anyone’s name in if you don’t like the candidates. We can just all vote for the briscoes lady or something.
Right? Such great choices.
Weirdly, the most sound looking policy to me (admittedly not an economist) is the Green’s. And that’s not something I thought I’d ever say.
Yeah, 2.5% on property and shares worth more than $2M, minus mortgage and other debt, one new tax bracket above $180k, 1.5% trust tax and a new 33% corperate tax. All of which is to pay for a lot of tax relief for normal Kiwis.
But regardless of the actual policies, what I was really referring to is the fact that their policy hasn’t been discredited by groups of economists as not being fundable. It seems, regardless of what you think of the actual policies, to be the most financially sound tax plan out there (perhaps TOPs too, I haven’t looked into it that in-depth yet).
Which is actually pretty funny really. 🤣
National’s is worse by far. Massive holes that will require even bigger cuts to public services, and dumping more fuel on the housing crisis by allowing foreign buyers back and giving tax breaks to landlords.
Labour’s will mean spending time in the courts arguing about what constitutes a fresh broccoli for GST purposes. Not the same.
https://www.merriam-webster.com/wordplay/bothsidesing-bothsidesism-new-words-were-watching
