The Landlord Party

When National introduced its landlord tax-break, Labour's Barbara Edmonds called it a waste of money which would blow the government's books. Then-CTU economist and now Labour candidate Craig Renney was even harsher, pointing out how it would subsidise a handful of mega-landlords by over a million dollars each, funnelling public money into the pockets of the few. But now both of them are going to have to eat those words and pretend they never said them, as Chris Hipkins has decided that actually he wants to subsidise landlords after all:

Labour leader Chris Hipkins has ruled out any changes to interest deductibility settings for landlords, if elected.

The coalition government in 2024 reinstated landlords' ability to claim tax deductions for interest on residential investment properties.

Opposition parties decried the government prioritising "tax cuts for landlords" which cost around $2.8 billion over four years.

But Hipkins on Monday confirmed Labour would not change the policy, because it was committed to a capital gains tax instead.

Which is just another demonstration of Labour's cowardice, its pandering to the rich, and its unwillingness to actually change anything (at least, nothing that upsets anyone important; they'll gladly throw the rest of us under the first bus which comes along). Its also an example of their complete hypocrisy: this was a terrible policy just two years ago, now its suddenly great. Actual policy merit doesn't seem to come into it - just whatever reckons Chris has this week in his desperate effort not to offend his mates in the koru lounge.

Who does this policy appeal to? People on $309,000 plus slush who just got us to buy them another house. Who gets fucked by it? Everybody who wants public services. The problem for Labour is that there aren't a lot of people in the first category, and a fuck of a lot more in the second. Once upon a time the party knew that. Once upon a time it didn't need to even do the calculation, because it knew what it stood for. But it doesn't now, and as a result its pandering to the rich while trying to call itself a "labour" party. Maybe it should rebrand itself as "Landlord" instead.

Fundamentally, voters can't trust a party with no values. And if Labour drives even more voters leftwards or makes them give up voting entirely with this, then it can hardly whinge about the consequences.