Economists analysing National's foreign buyers tax have found it would likely raise $210 million a year - falling well short of the $740m a year National expects to rake in.

When the details of this policy were released, it really didn’t pass the sniff test. It seemed to rely on a huge increase in foreign buyers, above pre-ban levels, and ignored any potential reduction in sales due to the tax itself.

  • liv
    5·
    1 year ago

    It seemed to rely on a huge increase in foreign buyers, above pre-ban levels

    Er, maybe this is the unstated part of their plan? Have a massive housing sell off to wealthy non residents?