Populist powerbrokers will cut New Zealand migration

2017 ◽  
Keyword(s):  
New Zealand ◽  
Labour Party ◽  
Capital Gains ◽  
National Party ◽  
Labour Government ◽  
Content Type ◽  
Market Policy ◽  
The Past ◽  
Minority Government ◽  
National Rule

Significance Both English’s National Party and the main opposition Labour Party are courting the populist New Zealand First party, which is the lynchpin player for either a coalition or a minority government. Which way New Zealand First breaks will determine whether pro-market policy settings of the past nine years of National rule are moderated slightly or abandoned outright for a new track on taxation, spending and regulation. Impacts New Zealand’s enviable growth record is likely to taper off if steep immigration cuts are imposed. A Labour government would only allow troop deployments overseas under the aegis of a UN mandate. Final seat allocations could leave the Greens backing a Labour-New Zealand First minority government. If relegated to opposition status, Labour will firm up its tax policies on wealth, capital gains and pollution.

New Zealand coalition’s fortunes rest on 2019 moves

2018 ◽  
Keyword(s):  
New Zealand ◽  
Public Support ◽  
Capital Gains ◽  
National Party ◽  
Content Type ◽  
The Government

Significance The coalition reaches this anniversary amid strong fiscal and economic prospects for New Zealand and with firm public support. Impacts The government’s social and environment initiatives are likely to concern businesses further. The National party will take some time to rebuild itself as an effective opposition. If Labour leads the government post-2020, new taxes could come including on the environment and capital gains.

Narrow win limits new Jamaican government's options

2016 ◽  
Keyword(s):  
Public Opinion ◽  
Prime Minister ◽  
Job Creation ◽  
Labour Party ◽  
Window Of Opportunity ◽  
National Party ◽  
Content Type ◽  
Positive Message ◽  
The Government ◽  
Opinion Polls

Subject Outlook for the new government. Significance Despite opinion polls before the February 25 election indicating a victory for the incumbent People's National Party (PNP), the opposition Jamaica Labour Party (JLP) won a narrow one-seat victory and JLP leader Andrew Holness was sworn in as prime minister for a second time on March 3. The PNP ran a lacklustre campaign that failed to galvanise its core supporters. In contrast, the JLP offered a positive message of tax cuts and job creation. Impacts Absent rapid economic improvements, public opinion may turn against the new government. Juggling IMF targets and popular demands may prove beyond the JLP's capabilities. The government has only a narrow window of opportunity before the PNP recovers from its surprise defeat.

Departure of New Zealand’s Key may open 2017 election

2016 ◽  
Keyword(s):  
New Zealand ◽  
Financial Crisis ◽  
Interest Rates ◽  
Prime Minister ◽  
Global Financial Crisis ◽  
Content Type ◽  
Minority Government ◽  
The Pacific ◽  
President Elect ◽  
National Coalition

Significance The unexpected departure of a popular prime minister opens up more space for opposition parties in the next election due by early November 2017. On Key’s watch, New Zealand weathered the 2007-09 global financial crisis, rebuilt from the 2011 Christchurch earthquake, strengthened public finances and kicked off negotiations for the now moribund Trans-Pacific Partnership (TPP) trade deal to tie its export-driven economy to growing markets on the Pacific Rim. Impacts A re-elected National coalition or minority government reliant on New Zealand First would lead to greater policy instability. The next prime minister could inherit the problem of rising interest rates hitting leveraged homeowners. US President-elect Donald Trump’s positions on security, trade and climate policy could see Wellington focus more on ties with Asia.

Housing subsidies and taxation in six EU countries

2014 ◽  
Vol 7 (3) ◽  
pp. 248-269 ◽  
Author(s):  
Robert Wieser ◽  
Alexis Mundt
Keyword(s):  
Housing Policy ◽  
Global Financial Crisis ◽  
Public Support ◽  
Capital Gains ◽  
Housing Sector ◽  
State Support ◽  
Content Type ◽  
The Past ◽  
Before And After ◽  
The Global Financial Crisis

Purpose – This paper aims to examine the main characteristics of the housing taxation and subsidy systems in six European Union countries. The structure of this support over the past two decades, before and after the global financial crisis has been investigated and its total effective dimensions have been approximated. Design/methodology/approach – Official national data and existing literature on housing policy expenses have been analysed and the authors add their own estimations of missing data, where possible. Latest changes in housing policy guidelines and expenses were interpreted. Findings – It was found that state support for housing is heavily underestimated by official data in most countries, mainly due to missing estimates for the value of imputed rents tax relief, reduced VAT rates and low real estate and capital gains taxation. Our estimates suggest that total public support for the housing sector reaches more than 3 per cent of the gross domestic product in three of the six countries, and about 2 per cent in the others. State support to the housing sector has developed quite differently in the investigated countries over the past decades. In particular, there was no universal downward trend. Originality/value – This is the first attempt to provide a more comprehensive analysis of national housing policy expenses applying a very broad definition of state support for housing. In particular, we consider indirect tax advantages to the housing sector that are generally not taken into account. Furthermore, we apply a discounted present value approach of current housing policy expenses to facilitate international comparison.

New Zealand migration may pose political risk to Key

2016 ◽  
Keyword(s):  
New Zealand ◽  
Housing Prices ◽  
Labour Party ◽  
Temporary Work ◽  
Inflation Target ◽  
Content Type ◽  
Export Sector ◽  
Reserve Bank ◽  
Education Export ◽  
Surrounding Areas

Significance The figure is the 22nd consecutive month of record-setting immigration, and the main opposition party, the New Zealand Labour Party, has called for more active adjustment of immigration and temporary work visas. Impacts The effects of immigration shifts on housing prices will be felt most acutely in Auckland and surrounding areas. Student visas for Chinese and Indian arrivals boost will boost the education export sector. Migration-related housing worries will make it difficult for the Reserve Bank to hit its 2% inflation target. The 'Brexit' vote will make it easier for Auckland to negotiate UK visa liberalisation, but will cost New Zealand an ally in EU trade talks.

Election could erode New Zealand budget repair

2017 ◽  
Keyword(s):  
Prime Minister ◽  
Fiscal Year ◽  
National Party ◽  
Middle Income ◽  
Content Type ◽  
Finance Minister ◽  
National Rule ◽  
Productivity Commission ◽  
Commission Report ◽  
Consecutive Term

Significance Increased economic optimism will be welcomed by Prime Minister Bill English, who is hoping that his National Party will win a fourth consecutive term in government this September. Finance Minister Steven Joyce presented a confident budget for the 2017-18 fiscal year in May that focused principally on low-to-middle-income taxpayers, laying out the government’s economic agenda. Impacts A tight labour market will push up wages and paint a positive picture of National rule for the electorate. High levels of household debt could undercut consumer confidence once monetary policy begins to tighten. No shifts in climate policy are anticipated until a June 2018 Productivity Commission report is released.

If They Say “Yes,” We Say “No”: Partisan Cues Increase Polarization Over National Symbols

2018 ◽  
Vol 29 (12) ◽  
pp. 1996-2009 ◽  
Author(s):  
Nicole Satherley ◽  
Kumar Yogeeswaran ◽  
Danny Osborne ◽  
Chris G. Sibley
Keyword(s):  
New Zealand ◽  
Real World ◽  
Prime Minister ◽  
Labour Party ◽  
National Party ◽  
Real World Setting ◽  
National Symbols ◽  
Registered Voters ◽  
The Impact ◽  
Citizens Attitudes

Real-world tests of the impact of partisan cues on voters are scarce because they require assessing how citizens’ attitudes changed toward an issue from before to after it became politically divisive. During the 2015–2016 New Zealand flag referendums, the leader of the (center-right) National Party and then–Prime Minister, John Key, championed changing the flag—a move strongly contested by the (center-left) Labour Party. Accordingly, we measured New Zealanders’ attitudes toward changing the flag using national longitudinal panel data collected in 2013, before the change was proposed, and again in 2016 at the height of the debate ( Ns = 6,793–6,806). Registered voters who supported the National Party were more likely to shift from opposing to supporting the flag change, whereas those who supported the Labour Party were more likely to shift from supporting to opposing the change. These data demonstrate the powerful impact of partisan cues on political attitudes in a real-world setting.

Betting on capital gains: housing speculation in Auckland, New Zealand

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Rehm ◽  
Yang Yang
Keyword(s):  
New Zealand ◽  
Design Methodology ◽  
Flow Model ◽  
Capital Gains ◽  
Due Diligence ◽  
Political Leaders ◽  
Content Type ◽  
Policy Tool ◽  
Rental Property ◽  
Key Policy

Purpose The purpose of this paper is to examine housing speculation in Auckland, New Zealand, the second most unaffordable market in the world. Design/methodology/approach The study considers rental property purchases from 2002 to 2016 within the Auckland region. The authors apply a simple cash flow model that emulates the before-tax investment calculations used during purchasers’ due diligence. From this model, the authors determine whether purchases involved speculation on capital gains or not and the authors estimate the degree of speculation at the transaction level. Findings The authors find that housing speculation in Auckland is endemic and its housing market is a politically condoned, finance-fuelled casino with investors broadly betting on tax-free capital gains. Social implications Although political leaders have decried that the “speculation-driven housing bubble in Auckland is a social and economic disaster”, the government’s main anti-speculation tool – the Income Tax Act’s intention test – sits idle and inoperable. By holstering this key policy tool, politicians foster housing speculation and use residential property investment to buttress New Zealand’s asset-based welfare system. Originality/value The authors develop novel methods to objectively distinguish speculators from genuine investors, measure the speculative pressure applied by individual rental property purchasers and outline an evidence-based approach to operationalise New Zealand’s currently impotent anti-speculation tool, the intention test.

scholarly journals Incomes policy and the 1985-1986 wage round: from non-market failure to market failure?

1970 ◽  
Vol 10 (2) ◽  
Author(s):  
Jonathan Boston
Keyword(s):  
New Zealand ◽  
Market Failure ◽  
Policy Instruments ◽  
Political Pressure ◽  
Market Mechanisms ◽  
Labour Government ◽  
New Approach ◽  
Market Policy ◽  
Transition Costs ◽  
Incomes Policy

Since the early 1970s New Zealand governments have relied heavily on non-market policy instruments (i.e. statutory contols. political pressure and moral suasion) to restrain the growth of wages and prices. The Labour Government has rejected this approach and is seeking to control inflation primarily through a reliance on market mechanisms. This article considers the merits of Labour's strategy in the wages arena. It is contended that there may be some significant transition costs associated with the new approach and that there is a risk that non-market failure will simply be replaced by market failure.

scholarly journals Hobbit Laws

2021 ◽  
Vol 17 (2) ◽  
Author(s):  
Dawn Duncan
Keyword(s):  
Human Rights ◽  
New Zealand ◽  
Film Industry ◽  
Employment Law ◽  
National Party ◽  
Employment Relations ◽  
Labour Government ◽  
Trade Off ◽  
Definition Of ◽  
Employment Rights

In 2010 the National Party-led government did a deal to keep the filming of The Hobbit in New Zealand. The deal involved amending the Employment Relations Act 2000 to exclude film workers from the definition of ‘employee’, and thus also from the protections of employment law. The amendment was rushed through under urgency, and protests and international criticism ensued. Ten years later, the Labour government is considering the Screen Industry Workers Bill. Rather than restoring employment rights to the workers in the film industry, it introduces a dangerous new precedent and continues to trade off human rights against commercial convenience.

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