NSW Greens spokesperson on Housing Jenny Leong MP has weighed in on the NSW Government proposal to boost foreign investor surcharges on stamp duty and land tax, saying it will have little impact on housing affordability unless revenue raised is directly invested in to public housing.
“By her own admission The Premier recognises that a foreign investor surcharge will be a revenue raiser for the Government, but have little impact on housing affordability.
“To make this announcement actually about housing affordability, there must be a commitment that the money raised from the surcharge will be directly invested in housing.
“The Greens are calling for the reported $1.9 billion that the surcharge is expected to raise over the next four years to be invested into public housing. This will provide actual bricks and mortar homes for people most in need.
“This Liberal Government has been unwilling to pass on the windfalls of the property boom to the people in our community who are doing it tough. There are more than 60,000 approved applicants on the waiting list for public housing in NSW and that number continues to grow, because of chronic underinvestment.
“The Premier has an opportunity to make a real difference for thousands of people in NSW who are facing homelessness or living under immense housing stress.
ABC News reported on 14 March 2017 on a statement from the Premier that the stamp duty surcharge for foreign investors was designed to raise revenue for the Government and not make housing more affordable for first home buyers.