NZ Labour Promises $1.2billion for Double Glazing & Warm Homes
Double glazing has hit the headlines in New Zealand. Gearing up for the coming election, the New Zealand Labour Party has announced a policy to make $1.2billion available to make 600,000 Kiwi homes “warm and dry”.
Homeowners will be able to claim up to $2000 per home, which can be used to subsidise the double-glazing of windows, insulation, or a heating system.
The program will run for 10 years, and will be available to 600,000 homes at a cost of $1.2billion – which is the exact same figure the Party estimates will come in from closing a tax loophole that favours property investors.
That ‘loophole’ is a familiar one to Australians. It’s Negative gearing. So has NZ Labour got it right? Will cutting out Negative Gearing help improve housing affordability, by removing subsidies for investors vs first home buyers? Will spending the money on double glazing, insulation and more efficient heating systems help 600,000 households enjoy a more comfortable life? Needless to say, more energy efficient homes also reduce the national and personal carbon footprint, and cut the household energy bills.
Scott Morrison and his Coalition Government could do much worse than support measures to increase the uptake of double glazing. Geneva didn’t muck around- they mandated double glazing!