Michael Reddell: Former Reserve Bank economist scrutinises aspects of National's proposed tax plan
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
Three economists have teamed up to scrutinise part of National's tax plan.
The party's proposed ending the ban on foreign buyers - for homes worth more than $2 million- and taxing them 15 percent.
It expects foreigners will buy 1700 houses valued on average at around $2.9 million.
But economist Michael Reddell says it'll be more like 700 in that price range.
"That $2 million threshold really does matter, because average house prices - even in Auckland - are well below $2 million. And there just aren't that many really expensive houses in New Zealand."
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