Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
Expectations are high for a Bill English initiative attacking skyrocketing house prices.
Today the finance minister and deputy prime minister is expected to present Cabinet with a plan.
It will be his response to a Productivity Commission report – a recent housing affordability report.
Like similar reports in recent years, it cites strangled land supply, red tape bottlenecks, local government levies, higher building costs and buyer expectations.
Mr English's spin doctor Craig Howie says the plan will be “pretty broad brush” and would fit in with other recent government initiatives.
An annual affordability survey, Demographia, reports that it takes six times average annual household earnings to buy a house.
This compares to three times annual average household earnings in the 1970s.
Read more about the issues in NBR NZPI.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- NZ can afford the future cost of superannuation — English
- Vodafone accused of manipulating debt arrangements to avoid New Zealand tax
- BUDGET 2015: How will tax on capital gain impact housing market? English unsure
- BUDGET 2015: Robertson says Labour will reverse key policies
- The Moxie Sessions: I don’t want your money, honey, I want your block chain database