“ACT would ensure a full reversal of this year's Residential Tenancies Act changes and put a moratorium on new regulations,” says ACT Leader David Seymour.

“Labour has done nothing but make the housing crisis even worse. The new tenancy laws will reduce the number of rentals and increase rents for a generation of renters who have been locked out of home ownership.

“When you pile on costs and regulations to landlords and increase the risk of being a landlord, those costs will be passed on to tenants in the form of higher rents.

“Young people are already facing a mountain of Government debt which they will have to pay back through taxes.

“We need to stop the stampede of landlords leaving the residential tenancy market.

“The biggest winners from Labour’s laws are corporate landlords and property management companies who get paid to navigate the complicated rules.

“The biggest losers are mum and dad investors and down and out tenants.

“The next Government must replace the RMA, freeing up land, making it easier to build houses, and bringing rents down. Only then will Generation Rent and Generation Debt be able to afford a stake in the future.

“I’ve seen some stupid policy before but it’s hard to exaggerate the stupidity of Labour’s law changes. They’ve directly disadvantaged the very people they were trying to help.”