A Labour win for landlords to celebrate
Former trade union boss Andrew Little was, yesterday, elected leader of the Labour Party. While that may mean little on the face of it it is good news for property investors.
During Labour's leadership campaign where the four contenders pitched their wares to party members Little made it clear he would ditch the party's proposed capital gains tax policy.
The policy is still to be formally ditched but a sign it will happen is that fellow leadership contender, and former finance spokesman David Parker announced yesterday that he would not continue on in this role.
As the architect of the policy, his decision can be seen as a good sign that this policy, along with one to raise the age of eligibility for NZ Superannuation, will go.
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