Business NZ supports the principle of including property rights in the Bill of Rights Act.
Business NZ Chief Executive Phil O’Reilly said the analysis (1) released today was further evidence (2) for the need for property rights to be among other human rights protected by law.
New Zealanders are less protected from the possibility of their government taking or reducing the value of their property than the citizens of most other countries, reducing the incentives to invest in economic development.
“The analysis released today by Evans, Quigley and Counsell indicates the extent to which New Zealand lags behind other countries in protection of this important right.
“Including property rights in the Bill of Rights Act would increase certainty for business and significantly aid the environment for investment in jobs and growth,” Mr O’Reilly said.
(1) Protection of Private Property rights and Just Compensation: An Economic Analysis of the Most Fundamental Human Right Not Provided in New Zealand by Lewis Evans, Neil Quigley & Kevin Counsell
(2) A Primer on Property Rights, Takings and Compensation by Bryce Wilkinson
Print