this post was submitted on 27 Nov 2023
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Lol sounds like this increases tax revenues by increasing the number of addicted smokers buying cigarettes and then taxing the sales.
Really sound government policy there.
They have actually admitted this is going to be revenue gathering. NZ has some of the highest tobacco tax in the world.
Basically their election promise was tax cuts, which they intended to do by allowing more foriegn ownership of real estate and taxing it.
After the election they found out they could only govern with the help of a populist party and a libertarian party.
The populists won't allow more foriegn ownership of real estate. Meanwhile the libertarians' wet dream is stuff like more ~~lung cancer~~ tobacco.
So we get shitty last minute law changes we didn't see coming, like this one.
Wait, they want more foreign ownership of real estate?? Are they high lol. That's going to price out every last young person there from homes that's not already priced out.
Yeah it was straight up one of their biggest election promises.
What can I say, their core base is landlords, boomers, and people who want leopards to eat faces.
They are supported by boomers and farmers both of which own property and are happy to flog it off to the highest bidder. They don't care a jot for the rest of society not having a place to live