The Taxpayers’ Union is slamming Labour’s commitment to the Ratepayer Assistance Scheme while failing to commit to delivering a rates cap. The scheme would allow homeowners to borrow against their properties to postpone rates payments.
Taxpayers’ Union spokesman Josh Van Veen says:
“Chris Hipkins’ answer to unaffordable rates is to help you go into debt to pay them. Councils get their money upfront, while ratepayers are left with a loan secured against their home.
“Postponing a rates bill doesn’t make it smaller. It means paying later, with interest. Labour is offering councils a way to keep collecting while homeowners watch their equity disappear.
“Ratepayers need a cap on annual increases that forces councils to control spending. They shouldn’t have to mortgage more of their home because the council refuses to live within its means. We can’t afford Labour.”
Labour's answer to soaring rates: put it on the mortgage
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