Bill English New Zealand’s Deputy PM Warns Proposed Measures to Tackle Housing Reforms May Backfire if not Handled Carefully
Auckland's galloping house prices have heated the housing market and to tackle the issue, the Productivity Commission has proposed several aggressive measures.
However, Bill English, the country's Deputy Prime Minister and the Finance minister, opines that if the issue is not tacked with caution, it may backfire.
The Finance Minister while talking about the Commission's aggressive approach proposals said that a moderate and standardized approach will be a better way to handle the situation. Several proposals from the commission include levying of congestion charges, larger number of toll roads and forming an Authority for compulsory land purchases. However the Government thinks that several of these suggestions are point to an aggressive approach and will be hard on the public.
The proposal for creation of a national Urban Development Authority was put forward by the Productivity Commission this week in its Using Land for Housing draft report.
In the draft report "Using Land for Housing", the commission investigated different means of how the supply of housing land could be handles so as to keep land as well as the house prices at a lowest possible level.
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