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NZCPR CAMPAIGNS
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Dr Edward A. Hudson
The cause of rising house prices is basic economics – demand exceeds supply. In the short run, excess demand bids up prices. In the longer run, high prices lead to an increase in supply, particularly in new construction. But we are not yet in a balanced demand-supply situation.
New Zealand’s greenhouse gas emissions are around 0.17 percent of global emissions. Even if carbon dioxide and methane emissions reduced to zero the effect on climate change would be negligible. For all practical purposes, actions by New Zealand have no effect on climate.
The Silicon Valley environment is stimulating and rewarding, both financially and professionally. This attracts more smart, motivated young people. There is a whole ecosystem of skills and resources for new technology companies, especially computer hardware and software. And, rapidly growing companies mean more jobs.
The Government has rejected the Tax Working Group’s recommendations for the introduction of a capital gains tax. One of the effects of such a capital gains tax would have been on economic growth. Economic growth is important as it is the source of increases over time in average incomes.
There is no evidence the that “the rich are getting richer”, that the highest income earners are increasing their income share. Similarly, there is no evidence that “the poor are getting poorer”. The extremes are not diverging.
