James Shaw

PHOTO: Greens co-leader James Shaw | Wikipedia

Greens co-leader James Shaw has lashed out at Labour over rising house prices, labelling it “irresponsible” for refusing to entertain a tax on capital gains.

Labour leveraged the housing crisis to great effect while in Opposition, but prices have continued to soar since it took power.

In the past year alone, New Zealand’s median house price has rocketed, climbing almost 20 percent to reach a record high $725,000.

Speaking to RNZ, Shaw said the steep climb was being driven by the COVID-19 response and yet Labour had not done anything to mitigate it.

“It incenses me,” Shaw said.

“You’re getting these massive capital gains occurring as a result of the stimulus package and yet there’s no action from Government to try and recover any of that or to mitigate it in any way.”