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Mike's Minute: March 6th is the start of redemption · Best of Business

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  Speaker 2: So March six is your day. This is the date
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  Speaker 2: that changes to foreign buyers of expensive houses comes into play.
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  Speaker 2: This date in a way is like the LNG announcement.
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  Speaker 2: So the idea of foreign buyers for houses isn't new,
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  Speaker 2: It's been part of the government's plan ever since the
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  Speaker 2: government became the government. The LNG idea got floated in
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  Speaker 2: the winter of twenty four, not long after the government
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  Speaker 2: became the government. Also, which proves one of two things.
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  Speaker 2: Either it's hard work being in government and things take
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  Speaker 2: longer than you think, or this lot aren't that flash
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  Speaker 2: at getting things done. Despite the rhetoric to the contrary,
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  Speaker 2: the foreign buyer's rule is a writing of a horrible, myopic,
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  Speaker 2: narrow minded wrong from the previous government. House prices were
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  Speaker 2: never driven by Germans buying fifteen million dollar homes in
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  Speaker 2: Herne Bay, nor Chinese buying nineteen million dollar homes and
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  Speaker 2: Saint Heliers, and that's essentially where they were all bought.
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  Speaker 2: Auckland Queenstown has joined the party a bit lately, but
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  Speaker 2: the vast sway of New Zealand never saw a mega
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  Speaker 2: purchase from a filthy rich foreigner. Wyatt's important as we
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  Speaker 2: see foreigners as good people who want to improve their
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  Speaker 2: lives while improving ours via the improvement of the country.
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  Speaker 2: People who have money do things with it like buy
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  Speaker 2: and build businesses. They invest, they grow, they employ, they
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  Speaker 2: pay tax, They bring knowledge and expertise, and they more
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  Speaker 2: often than not fall in love with our piece of
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  Speaker 2: paradise and end up doing far more than they ever
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  Speaker 2: set out to do. I think a lot of Julian Robertson,
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  Speaker 2: an American who built lodges and golf courses, are that
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  Speaker 2: bring in millions, continually enhance the place. And next time
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  Speaker 2: you're at the Auckland Gallery by the way, go see
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  Speaker 2: his picassos. He gave them a fortune and art. What
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  Speaker 2: drives bands is envy, is shallowness, is fear, and often stupidity.
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  Speaker 2: We have at last made it right. Yes, it will
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  Speaker 2: help the housing market, but more importantly it will help
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  Speaker 2: the country. And this country needs to pull every trigger
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  Speaker 2: in its arsenal to fire it up. Nine years ago,
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  Speaker 2: nine short years ago, we were a place of pride
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  Speaker 2: and growth and global admiration. Labour seventeen through twenty three
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  Speaker 2: destroyed that March six is a small step back towards
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  Speaker 2: redemption and better days.
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