This is the real reason why the CGT won’t pass…
… there are none so blind as those whose untaxed wealth is dependent on not seeing.
For that generation home ownership rates for those aged 15-40 fell to 22.1% by 2013 from 35.3% in 2001. The overall rate of home ownership for individuals fell to 49.8% from 54.9% in 2001.
The vast majority of the 270 000 children living in poverty are the children of those born right after 1984. NZers in their 30s, 40s and 50s in the 2000s were buying up property while Gen Xers got to university and were hit by student loans and by the time they were paid off the property market was already priced out of their reach.
Those who have benefited from the unfair play infield of neoliberalism will scream bloody murder to have their untaxed gains and economic manipulations left alone while those generations who have been damaged by the legacy of Rodgernomics are too splintered and alienated by identity politics to be an effective enough democratic majority to attack that self interest.
But change is coming. By 2023 Millennials and Gen Xers will be the democratic majority, and then dear brothers and sisters we will tear power from the hands of the Boomers and we will smash their privilege into tiny houses which can be sold in community lots with a communal garden and smashed avocado free kitchens.
(The revolution in NZ will not be televised, but it will be a tad gentrified).
Of course it wont pass as Labour are just sending it out as a talk fest as they know they will loose the 2020 election pushing it.
labour are a “risk adverse’ lot aren’t they?
High land costs and slow consenting processes are the core of our very high housing costs.
The high cost of housing is the biggest contributor to poverty in NZ. It is an entirely man-made problem – from political decisions by central and local governments.
Where is the campaign by the NZ Left to reform the RMA and the Local Government legislation to allow cheap land for housing?
Asking for my friends and I who will never own a house.
Where is the campaign to reform the building regulations????
NZ building regs are ridiculous. Self build out of demo materials, barn conversions etc which many boomers did( me included) are all things of the past. The building regs are THE single biggest reason for the housing crisis.
National have probably blown their budget on excessive advertising against the proposed CGT.
They seem to be so obsessed with advertising to the point of it being now OTT.
Which makes me question as to why National are so obsessed with the CGT? Is it because many National MPs have more than one property and in fact one or two or three of their current MPs have multiple properties?
Have these National MPs paid taxes over the years on these properties or did they do a Bill English and Double Dip? How much tax have the individual National MPs paid in taxes whilst owning these properties? Surely NZers have a right to know???!!!!!
I am now sooo over hearing about the CGT and especially National’s and of course their Mouthpiece of the NZ National Party called the Tabloid NZ herald that I have now switched off wanting to hear anything more about the CGT from the NZ National Party.
Their obsession has gone into over-kill. And the amount of advertising they have done on the matter is starting to strike me as being suspicious as to their TRUE intentions.
We all know National MPs don’t do anything unless they can get something out of it for themselves later on. And so their OCD on the CGT sounds like a mental illness to me. Perhaps they need to text Sarah Dowie for one of her explosive text responses.
It speaks volumes about Grant Robertson’s financial competence when he’s been an MP since 2008 and still hasn’t got an investment portfolio.
A lot of the Greens have hidden wealth: They’re ‘trustafarians’ who pretend to be green and poor when in fact there’s family money hidden in the background.
Maybe we should demand smarter application of KiwiBuild to get results.
The quickest way to get new homes built is by infilling existing sections. Many of those sections where this has not been done have only small section spaces available – so have not been seen as viable. However small homes may be a game changer for some of these.
Nationwide consents, small homes quickly factory built to get supply into the market. A lot of older folk might like a downsize option in a city where they still work or have social connection. This frees up their family homes for those looking to move on from their doer upper and of course their home is available for those couples trading up from a flat or apartment to start a famliy.
On the demand side, its past time to recognise that new builds do not match first homeowner need for affordability and open sales to existing owners of property.
Effective policy to drive down prices and house people.
Revolution?
In Newzild?
Gimme a break Bomber.
Any country run by sheep farmers is never going to experience revolution.
Wish it was still run by sheepfarmers !
Answer? The native land act, we are all natives of NZ after all
The reasons you suggest are not he reasons why there will not be a CGT Martyn.
For at least 20 years, since the sell-off of our public assets to overseas interests, NZ governments, Hellen Clarke’s ( Michael Cullen’s) as much as John Key’s have balanced the external books by selling- allowing the sale of NZ houses, farms, forests, and citizenship to any overseas speculator that will buy.
A CGT will kill that mechanism stone dead. The balance of payments will be exposed for what horror story they really are. It won’t happen in the foreseeable future. 5-10- 20 house owners can relax.
D J S
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