Prime Minister John Key and others were advised a year ago to put in place a stamp duty or land speculation tax but all the politicians pooh-poohed that proposal and existing tax rules stayed in place.
Now we are back on the land tax bandwagon way after the event when Government should have addressed the issue in 2015.
Any land tax must be imposed at the point of sale, not 12 months later. It needs to be selfassessed, self-policing and paid before any transfer is registered.
By all means allow a residential exemption for New Zealand citizens, on the primary family home lived in for at least two or three years prior to sale.
Tax collected could have gone into major infrastructure and greenfields development but frankly the horse has bolted.
House prices NZ-wide have gone through the roof, depositors and savers shafted by pathetically low interest rates now used to fund low interest loans to crazed house purchasers and property speculators.
Still, why be surprised – these fiscal political fools get nothing right. We have a poor health system with huge waiting lists, failing education systems and welfare schemes are a joke!
Don't forget the Freshwater and Foreshore and Seabed issues either. Grade ‘F' for fail allround.

R Paterson, Matapihi.