So the reason for this post is primarily to record a new fact - new to me anyway.
60 per cent of all rentals in New Zealand are subsidised by the Government.
Six out of ten rented homes are subsidised by the taxpayer.
That's all....apart from..... I would also observe the speech from Bill English (source of the information) began with:
I am old enough to remember the mid-1980s. After leaving university, I was involved in farming. At that time we had a number of arrangements in New Zealand that meant people who were involved in farming weren’t getting the right price signals. Then, suddenly, they did. I was a part of communities that were drastically affected by that. Farm subsidy systems were abruptly removed. Our communities changed drastically and dramatically.That was a sharp personal lesson, and one that many New Zealanders also experienced.
A strong focus of our policy is to make sure our markets work.
Yet the rental property market is still heavily subsidised and still not working.