1. Budget 2009—Credit Rating Upgrade

Dr Russel Norman: Does he agree that one of the central drivers for the imbalance in foreign debt and the current account deficit in the New Zealand economy has been the housing markets speculative bubble, and will his Government support measures that tackle the bubble directly, such as a capital gains tax excluding the family home, and ring-fencing the losses from investment properties?

Hon JOHN KEY: Yes, in answer to the first question. In terms of the latter question, the member will be aware that Bob Buckle is leading a tax review. I do not want to prejudge that review, because there may be all sorts of things it looks at. But I personally have stated many times, and am happy to state again today, that I do not support a capital gains tax.

Hon Phil Goff: Is it also the Prime Ministers attempt to impress credit rating agencies that is the reason he is appointing Don Brash as head of the Productivity Commission, notwithstanding that that brings back an agenda that the electorate rejected decisively in 2005?

Hon JOHN KEY: From my memory we lost the 2005 election by only a smidgen, so I am not quite sure that is the right assessment. I do not know whether I have missed something, but I cannot understand the Leader of the Oppositions fixation with rating agencies at the moment. When Standard and Poors upgraded us, apparently it was the guy who got it wrong with regard to Enron and should not be believed.

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News & Politics

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[k1w1magic]

Smug A-hole



[coderedex]

what about the leaky home ripp off,I left NZ becuase of that......PLEASE ADDRESS THIS ISSUE.