Bianjie

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Finance minister Aturamo: the solution to the housing crisis is more than just building new homes 
Talking at the biannual Ambagašan Economic Forum, finance minister Marsai Aturamo spoke about the government's plan to tackle the housing crisis in the country
8 June 5672



"In my opinion, many people falsely think that the solution to the housing crisis in Bianjie, or any other country, is simply to build more houses", said the Minister of Finance Marsai Aturamo, at the biannual Ambagašan Economic Forum located at the homonymous city. "The real problem lies in the system, in the way neoliberal capitalist structure is operating, and let my fellow economist colleagues forgive me for using scary words like these, but it is true". At the forum, Aturamo proceeded to push the idea that the reason for the ever-increasing housing costs in the country lies not in a lack of housing, but rather in the exploitation of it by major corporations and individual billionaires.

According to the finance minister, the State Council has been researching the issue for the past couple of years, working with various high-profile economists on both the left and right spectrum, as well as the education institutions, like the University of Gemun, Ersangi University of Technology, and Niyalma School of Economics. After a significant amount of research, experiments were done in 9 different cities in Bianjie and 5 more cities worldwide. The working group of the SC and MOF concluded that, indeed, the problem lies in a bigger systemic problem. "What the group has said in their report is that, basically, the crisis is completely artificial, created by the excessive acquisition of housing as assets", said minister Aturamo.

He says the conclusion that the group arrived at, and he personally as well, is that there needs to be a proper plan of action to tackle the inequality and exploitation of the market by the corporations and the rich people, including the "very serious conversation" about the transformation of the housing into assets, something which has been the key factor in the sudden growth in rents and costs of the housing, especially in urban areas. Aturamo said that his ministry, alongside the very same working group, has been developing the programme, which will focus on addressing the issue with a "calm and balanced approach".

Sources close to the Ministry of Finance have told Bekkei that the ongoing process of creating the housing reform alongside the economist working group will involve a series of direct actions that the MOF will take to address the issue, including the creation of the oversight body to control the investment into housing by the corporations, and the power which will allow the body to seize assets in favour of the cooperatives or the government, however, that can and will only be used in extreme cases, which are not specified yet. Additionally, the discussion is about the creation of a wealth and asset tax, which may "help the wealthy to get rid of their excessive amount of money", one of the MOF workers jokingly told Bekkei. At the same time, in parallel with this, the finance ministry is developing a major plan for reforming social housing, which must transform the process from simple "soulless structures" into proper cooperatives, subsidised and encouraged by the government.

Closing his speech at the forum, Marsai Aturamo has addressed the businesses and entrepreneurs, who could be worried of the incoming reform: "Now, I am pretty sure that there will be enough criticism of the additional government regulations and oversight of certain actions done by the private businesses and individuals, which might scare folks away from our country, but I want to be very clear: if working and lower-class people will have a roof over their heads, it means more labour force, which means corporations grow", the finance minister pointed out. "I assure you, we have no intent to attack the businesses or private sector. So, I ask you to have a long-term vision, faith and patience".



べふ経済新聞 (Bianjie Economics Newspaper), also known as the Bekkei, is the second-largest economic newspaper in Bianjie, founded in 5561 and based in Niyalma.