Foreign house buyer ban may redirect investment into productive assets: FEC chair

Thu, 17 May 2018

By Andrew Bevin May 17 (BusinessDesk) - Michael Wood, the MP who chairs Parliament’s finance and expenditure committee, wants to see more overseas investment directed into productive assets, which he sees as a secondary benefit to restricting foreign purchases of residential property. That committee received several hundred written submissions on the Overseas Investment Amendment Bill and heard dozens of oral presentations since February. It is scheduled to report back to parliament by June 21. The bill’s primary goal is to make housing m...

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