jul 1, 2014 - Import Tariffs on Building Supplies - suspended
Description:
Import tariffs on a range of building materials were suspended for at least five years. The building materials covered by the suspension covered about 90 percent of the cost of the materials for an average house and these materials had previously attracted tariffs that added around $3,500 to the cost of a new home. The suspension was expected to reduce housing costs and increase competition in the residential construction sector. The loss in revenue to the Crown resulting from the suspension was $5.5 million per year.
This change had been announced in the 2014 Budget. Other measures to improve housing affordability included freeing up land supply, reining in development contributions, cutting compliance costs and investing in skills and productivity in the construction sector.
Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html
Added to timeline:
A chronology of Māori housing in Tāmaki Makaurau - Key events
This timeline charts the changing institutional framework an...
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