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Broken promises and bromide

25/03/2021

Excellent post that yet again points out that the problem will not be solved by this bunch of political bromides passed off as major contributions to solving the issue

Homepaddock

Yesterday’s announcement on housing was mere tinkering.

It broke the promise of Grant Robertson that there would be no changes to the bright line test and Jacinda Ardern’s promise there would be no capital gains tax while she was leader.

What makes it worse is that the broken promises will do nothing to solve the housing crisis. It could well decrease the supply of rental accommodation and will lead to increased rents.

That pressure on rents will be compounded by the decision to single property owners out by ending their ability to claim the cost of interest against their income for tax purposes.

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