Source: ACT Party
Headline: Labour’s Stealthy Land Tax
“The Government’s directive to further restrict the sale of land to overseas investors will wipe millions off working farmers’ hard earned wealth,” says ACT leader David Seymour.
“It’s an outrage that small family-owned farms of only five hectares will see thousands shaved off their land value and our Government punishing Kiwi farmers for their hard work. It’s a stealthy land tax by Labour.
“The Government shouldn’t be getting in the way of a willing buyer and seller and artificially reducing land prices, especially when significant carve outs for the forestry industry remain to encourage investment in their pet project of planting one billion trees.
“David Parker isn’t fit to be Associate Finance Minister if he thinks these restrictions won’t significantly affect the price of farms. It’s not too late to enrol in ECON 101 for Semester 1.”