Saturday, February 6, 2010
New Zealand government wants to stem high House prices
Looks like NZ wants to introduce 2 things: Land tax and cutting down tax benefits for the buy to let sector. Realisation that high house prices have no beneficial effect on economic growth, it increases interest rates and hurts exporting businesses due to higher NZ dollar. Land tax will be offset by having lower income tax. Would it not be great if UK followed suit.