Alliance mortgage plan turns financial crisis into asset

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Alliance Party finance spokesperson Professor Jim Flynn says the government has to think outside the square to prevent ordinary New Zealanders losing their houses during the economic crisis because they can’t afford their mortgage payments.

In the wake of the news that in August this year at least 50 families were forced into mortgagee sales of the family home, Professor Flynn says there is a simple solution.

“Rather than have people face mortgage sales, the government should buy the houses off the banks for their rateable value. The bank would be relieved of a ‘toxic’ asset and the government would get something in return for helping the bank.”

The home could then be rented back to the occupiers at perhaps 20% of their income. This would mean people could afford stay in the family home. They are spared the upheaval of trying to find alternative accommodation, which could mean overcrowding, children having to move schools and a loss of social support systems. Continue reading

Alliance Party Conference opens in Christchurch – open session on global economic crisis from Jim Flynn

The Alliance Party has opened in Christchurch this morning. The conference is at the Canterbury WEA Rooms at 59 Gloucester Street.

A public session will be held at 3pm, Saturday 17 October at the above venue, where Alliance Party finance and tax spokesperson Professor Jim Flynn will speak on the international economic recession.
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"Progressive taxation and New Zealand": A Dunedin Public Lecture by Professor Jim Flynn

Professor Jim Flynn, Emeritus Professor of Political Studies at the University of Otago, will present a public lecture “Progressive taxation in New Zealand” on Thursday 14 August 2008, at St David Seminar Room 6, University of Otago, Dunedin at 7pm.

Professor Flynn, who is Alliance Party spokesperson on finance and taxation, says some of the key aspects of progressive taxation would be the immediate removal of GST on food and the phase out of all GST, and its replacement with a Financial Transactions Tax. Continue reading