Property owning National MPs to take biggest budget hit
National MPs will take the biggest hit of any politicians if budget announcements making multiple property ownership less financially appealing are implemented.
Finance Minister Bill English has made no secret of wanting to use Thursday's budget to dampen New Zealanders' addiction to property ownership.
In Parliament, he said high earners – those most likely to invest in property for commercial gain – could expect to see gains from tax cuts offset by property taxes.
The latest Register of Pecuniary Interests for MPs shows that National MPs dominate when it comes to multiple home or property ownership.
Many MPs have assets in trusts, making it difficult to know what their stake is, but a string of National MPs listed holdings of over half a dozen properties.
In Napier, for example, MP Chris Tremain's investment portfolio totals 14 residential, commercial and apartment properties, along with two Hawke's Bay homes and a couple of beach sections.
Minister Gerry Brownlee listed half a dozen properties in Christchurch and Marlborough,
National's Cam Calder listed four Auckland properties and a "restoration project of ruin" in France; Aaron Gilmore listed half a dozen properties; Paul Hutchison had ties in eight properties of various descriptions; and Hekia Parata listed several houses and land in Wellington and the East Coast.
In terms of company interests such as shares or bonds, Agriculture Minister David Carter had a string of 10 agriculture-related companies listed, while Act's Sir Roger Douglas listed interests in 18 companies.
Mr English listed his farm and family home in Dipton, Southland.