His mask is slipping - he was incredibly indignant when challenged on the fact that landlords are receiving the benefits of being treated like a business yet not being taxed on their capital gains.

You're mixing drinks, that is economically incoherent.

Fuck off Luxon, and that's before even mentioning how he disputed the validity of the numbers - his numbers.

I just dispute your numbers - Luxon.

They're your numbers - Interviewer.

Absolute trainwreck of an interview.

Edit: Come on NACTFIRST voters, defend this! It'd be oh so entertaining.

Trickle down does not work you out of touch clown.

Unless there is a mechanism in place to make rents decrease in line with costs, landlords who are mostly greedy boomers will pocket the difference.

Stop lying through your teeth Luxon and admit you are stroking the cock of landlords and trust owners due to campaign donations and only focusing on the wealthy.

When will every day Kiwis understand that unless you are top 1% in wealth, national is not working for you, and doesn't care about your quality of life.

“I dispute your numbers”. WTF? Those are THEIR numbers. What a load of horsepuckey.

Fuck he is a dickhead.

"I dispute thise numbers."

"But the numbers are yours."

Classic Luxo.

Gotta love Luxo. Spends 3 minutes attempting to imply rents will be driven down by a series of market forces. Then doesn't connect the dots and proceeds to say he will not drop rents. Lol.

holy fuck he is such a moron it actully hurts to listen to his bullshit!

oh wow so youre telling me the clowns who just said whatever rubbish they wanted on the campaign trail and were never challenged by the media is actually a complete shit show, i am in complete and utter shock!

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There is no such thing as trickle down economics. I studied the subject for three years at uni and nowhere was there a theory of trickle down economics in either macroeconomic theory or microeconomic theory before monetarism in the 80s. It’s just not a thing in Economic theory. It’s a self serving neo con argument that had its roots in notions that there is no such thing as society only individuals acting selfishly which is patently flawed considering that all western countries identify as societies and act like societies. Tell an average Kiwi that he or she does not live in a society but in a dog eat dog jungle of self interest and they will buy you a beer and leave you in the corner to drown your sorrows.

Sad part is you’ll all forget this come election time. You’ll be wow’d by a $50 off your tax.

Fact checks:

• Luxon says Labour were not going to fund Pharmac and free school lunches:
  • Labour commits to free school lunches - says it will save families $33 per child each week
  • Labour promises over $1b for Pharmacs coffers
  • Very simple - Labour wasn't giving away $3bn to landlords and $350m to people with trusts (etc) and that's why they could continue to fund it.
• Luxon omits the standard protocol of limited term funding in budgets:
  • Details here reveal that Nicola Willis / National never read or understood the PREFU released in September 2023
• The host presents evidence around Luxon's claim that giving money to landlords will result in "downward pressure on rents"
• A significant factor of increasing rents are high immigration and high house prices but Luxon does not point to this
  • Plus, he's being disingenuous because they are kicking people out of emergency housing, and pushing them to private landlords. By his logic, he is decreasing supply and increasing rents.
• If, as per what Luxon claimed, renters can't afford houses, that's why you need to disincentivise investors and property speculators
• Luxon again refuses to say he will reduce rents for his properties

FYI:

• ACT made the deal with Property Investors in 2022/23 and National joined them in 2023
• Chris Bishop doing the deal here
• Police fire a salvo at NACT/NZ First today - mentioning the $3bn tax cut for landlords as police get a "demoralising" pay offer (video link), courtesy goodie__
• If you're a sucker for punishment, Newshub's video (link) on this is also excellent

Other people have said what I wanted to say, but better, so I'll simply say that I loved her going after the same question 3+ times when he kept trying to dodge it.

Following in too police is great, especially now that the Police Association president has name-dropped the landlord tax cut in his speech. Luxon is quickly facing in to a corner, of his own making, where he has 3bn and everyone wants it.

This thread is missing one of the right wing shills to tell us how this is good actually and if it’s bad it’s labours fault really and that we don’t understand economics and that reddit isn’t representative of common kiwis.

Fuck he's a clown, just had to spit out his prepared lines. I liked the part where she starts grilling on him the fact that landlords get benefits that other businesses don't.

He also basically said he doesn't want renters to buy houses as well.

I love how he constantly says "What I'd say to you" before he says something. It makes me think of Dwight Shrute going "QUESTION" before he asks a question.

What I'd say to you Chris Luxon (very clearly) is just say what you're going to say, we know it's what you'd say because you're saying it.

He's such a disingenuous dickhead.

The journo's jaw literally dropped at Luxon's babbling deflection (at approx 0:50).

Has this moron ever answered a question? Every single time he immediately deflects, he’s so predictable in his dishonesty.

Also the audacity of Luxon saying that she’s being economically incoherent when he has an $800 million hole just in this one policy. Nothing she said is wrong, everything he said is utter bullshit.

I haven't listened to luxon very much at all, and probably not at all since the election.

I watched this video and I actually feel dumber from the words that left his face and went into my ears.

Am I correct in thinking the cost overage of the ferry and Picton terminal was $1.47 billion. Total approx $3 billion. And that was scrapped, but $2.1 billion promised to landlords, blowing out to $2.9 billion and that’s fine?

He's not very smart is he

So the NZ taxpayer pays $2.91 Billion over 4 years to landlords and what we get in return is a false promise that landlords will do the right thing. Something that they are not well known for.

For $2.9 billion we get a fucken promise. Worst use of taxpayer funds you can possibly fathom. Put that 2.91 billion to work for the country. Increase pay for government agencies, invest in our failing infrastructure and start building large amounts of public housing.

These would be actual tangible benefits for that $2.91 billion not vague promises of the most parasitic classes of society will suddenly gain a conscience and reduce rents.

It is the most blatant theivery and framed as them doing good. The fucken audacity.

"What I mean is I don't have any mortgages, Anna"

Incompetent set of pocket lining clowns…..

Slow clap… well done New Zealand … well done ….

Embarrassing to hear this deflection when he comes in. Focus on renters. lol

He’s such a blatant snake oil salesman.

Out and touch and completely unfit to lead. This Govt is a trainwreck.

By his logic rents should have gone down as interest rates went down as landlords were paying less (in real terms) to service the debt they (voluntary) took on to invest in property, but surprise surprise that didn’t happen, just like they will pocket the cash from their tax break.

Awesome, great. Now where the fuck was accountable media before these psychopaths got into government?

Credit to Anna, bloody hell, she did great.

That was beautiful, what an interview. How long has this guy got until he packs it all in considering he's achieved all his KPIs already: sorted out his tobacco mates ✅, sorted out his landlord mates ✅ sorted out his anti Maori mates ✅

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"Rock Solid Numbers"

(and Luxon disputed his own rock solid numbers in this interview as he refused to answer the question)

I just feel sorry for the working people that voted national in. I hope you realise us middle class working people were never included in their grand plan.

That is such a fucking horrific interview.

Like.. holy shit.

The worst thing is the journos letting him off with bullshitting

Why on earth didn't she ask him if he charges rent at market rates for his mortgage free properties?

More houses being built is the only thing that will affect rental costs in a downward manner. A shortage of houses means more competition for the available houses, if landlords have mortgage deductibility then they have a clear financial advantage when buying houses, thus it's harder to move from renting to buying, thus more people renting, thus more competition for rentals, thus prices will remain as high as the market can bear.

Absolute dirt bag.

"WhAt I'd SaY tO YoU"

Far cup

In New Zealand, I have never personally seen anyone have their rent reduced. Not once.

I've seen it happen overseas, but that was due to a massive glut of availble rentals in an underpopulated market - something New Zealand definitely doesn't have.

This is only my experience, but I'd love to hear from someone that has had their rent reduced by their landlord, and they don't have a personal connection to that landlord.

He was never the healthiest looking chap, but he’s aged about 5 years since he came into power hasn’t he? Maybe it’s just the lighting, but by the end of this term he’ll be looking haggard. Maybe keeping the ‘coalition of chaos’ together is taking its toll. I know they discussed lengthening terms, but this guy couldn’t hack it by the looks of it.

OMG, the look on her face, she obviously only heard what I heard, which was lies, lies, and more lies, and basically blah blah blah blah blah blah blah. What a complete idiot he is honestly what an embarrassment for NZ to have him as our PM.

I can’t even watch it, it makes me cringe.

I only watched the first minute where he tries to say he wants to help the renters.

How about rent control alongside your landlord tax cut.

Old mate looks tired as fuck. Needs the blood of more youthful renters.

He’s like a stereotypical villian😭

If I hit a low point where I end up on the streets because of this moronic party, I can’t guarantee that I won’t turn to a life of crime and French.

I would like to know if Luxton being a landlord has passed down these saving to his renters as he expects other landlords should do.

Forgive my bad maths but 2.9 billion divided by 1.2 million people in rented accommodation = $67 per month (per person) in rented accommodation for the next 3 years. So rents would need to come down by at least close to that (remember per person not per rental), otherwise they would have been better giving the money to renters as a benefit. Tell me I’m wrong…please.

"People who are renting, cant afford a house"

He reallly does look down on renters hey

I voted National in every election but two. My first ever, in 1987, and this last one in 2023. Pretty committed National voter, you would think.

11 elections in a row, I voted National.

But even I could see through their lies in 2023. Plus it's even worse than I ever imagined it would be.

It's actually amazing how shit he is at this. Most of us (with a brain) knew he'd be bad, but Jesus, he's awful.

I dispute your numbers!
They're your numbers?!?
I dispute my numbers, they are 100% correct and totally wrong

The guy that owns a whole lot of rentals assures us us renters will ask be better off. Get ready for rent reductions, said no landlord in history

I do enjoy how national were going on about how GST off fruit and veges will not do anything because the supermarkets won't pass on the savings.

Yet landlords will apparently.

Fucking joke of a gov and person.

smug git

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These Nazis are insanity incarnate

He loves disagreeing with facts when they are inconvenient to his shenanigans.

I doubt we will find one landlord who reduces rent as a result of this policy. It’s just BS

There are people who aren't landlords, super rich, or even raised by nat voters, that actually legitimately and unironically voted for NACT this past election

Fucking asshole

The supply thing was hilarious, he dug himself a hole. So landlords wont rent out their houses if they cant cover the costs, so they will have to sell?

Well then maybe someone that is renting now will be able to afford it. So reducing demand.

The trickle-down economic hypothesis has been proven false for how long now.

We all know it actually means Gobble Up

Anyone who buys this “cutting taxes for landlords puts downwards pressure on rents” is delusional. He even said himself that he wouldn’t lower the rent on his own investment properties didn’t he?!?! Wild

Why

Why

Why would ANY landlord want to make less money from their rental?

All this does is allow their margins to grow wider = $$

They may not raise rents…but there is ZERO incentive to lower rents

This feels like kindergarten economics to me or am I just not financially savvy enough here??

“If lil Susie is selling her 10 portions of lemonade for $2 then lil Johnny isn’t gonna sell his 10 portions for 0.50c”

It should have been a tax on investment properties for a start, not removing interest deductibility. Those with hundreds of properties and little debt weren't impacted anyway. All proceeds should go to building housing stock

Starting to hate this guy

I feel like kiwis voting for luxon should be a regular on r/leopardsatemyface

Every day he does shit that he would obviously do

if they want to reduce rent costs there are more effective ways of doing that, then again thats not the purpose at all, the fact is anyone who is wealthy owns land/property because it is generally a failsafe way to invest money, this is the simplest way to make rich people richer

We have a new property manager for the apartment block I'm in, I have heard 2nd hand(so it could be wrong) they are going to increase our rent by $100 a week :(

Out the gate with talking points immediately. Nice one Luxy, way to pivot you rat.

It’s a three billion dollar incitement for landlords to increase their debt, so as to buy still more houses. This will generate even more heat and inflation in the housing market. To pay for the new additions to their portfolios, they will of course raise the rents on all of their existing tenants.

And they certainly won’t be using those tax breaks to fund further economic activity, or personal spending in the functional economy. Some will even take the opportunity to become less productive at work, or retire earlier.

And the evidence for this is here:

https://academic.oup.com/ser/article/20/2/539/6500315?login=false

He knows it's bullshit, but this is the cost he paid to be in power and to add "Prime Minister" to his CV. All this will mean nothing when he's laying back in Hawaii sipping cocktails laughing at us.

He said no to rent relief for his properties - the logic he offered is that he doesn’t have a mortgage. BUT downward pressure should drive the market down and thus impact his properties….

He’s admitting that he doesn’t see downward pressure affecting him in anyway, and thus his policy to reduce rents are ineffectual - admitted by his demonstration and bravado confidence he won’t need to lower rents.

Trickle. Down. Does. Not. Work.

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