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Time running out to have say on budget, foreign ownership

Author
NZ Newswire,
Publish Date
Tue, 16 Jan 2018, 5:21AM
Major policies from the Government are still open for public consultation. (Photo / Getty)
Major policies from the Government are still open for public consultation. (Photo / Getty)

Time running out to have say on budget, foreign ownership

Author
NZ Newswire,
Publish Date
Tue, 16 Jan 2018, 5:21AM

As MPs return to their seats for another year, it is a timely reminder for people to have their say on the proposed foreign buyer's ban and 2018 budget.

There are only three days left for public submissions on the Budget Policy Statement 2018 which outlines the new Government's fiscal plans for the next year.

The policy statement outlines how the majority of the government's revenue will come from reversing the former National government's tax package, while also outlining the government's own Families Package which was introduced under urgency in mid-December.

The bill also outlines Labour's ambitious 100-Day plan including passing the Healthy Homes Guarantee Act, resuming contributions to the New Zealand Superannuation Fund and setting up an inquiry into state abuse.

The Overseas Investment Amendment Bill is also open for public submissions until January 23 which will have far-reaching consequences on land ownership in New Zealand.

The Bill would limit overseas people who are not residents in New Zealand from buying existing houses or other pieces of residential land, excluding Australians.

However foreign nationals could still buy residential land to build homes on as this would add to the overall housing stock.

The amendment to the Overseas Investment Act 2005 would include extending the enforcement and information gathering powers of the Overseas Investment Office.

Submission on both these bills can be made on the New Zealand Parliament website.

All submissions are public but only your name or organisation's name is required.

- NZ Newswire

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