Policy ‘not rooted in reality’

Andrew King

The Government will now stop landlords claiming interest on loans for rental properties as an expense against their income from those properties – and other forms of income such as wage and salary earnings.

In a meeting with the IRD about the processes for the change that will be phased in over four years, King says it's clear the Government has not done any work at all on the effect the policy will have.

“It seems an ideological position to take against property investors. It is not rooted in the real world of day-to-day living for investors.

“They are not speculators as the Government likes to think.