Mr Luxon signed two independent documents, comprising Confidence and Supply Agreement with ACT Leader David Seymour and New Zealand First Leader Winston Peters. As a part of the coalition agreement, Mr Luxon had to concede his proposal to tax foreign buyers purchasing properties in New Zealand. Mr Luxon said that all three parties have accepted ACT’s policy to speed up the rate at which interest deductibility for rental properties is restored. The parties promised to ‘restore law and order’ during their campaign and Mr Luxon addressed this issue during his speech. The parties have agreed to adopt ACT’s policies to reintroduce partnership schools and to allow state schools to become partnership schools,” Mr Luxon said.

Source: New Zealand Herald November 24, 2023 05:41 UTC