9 August 2002

Young Nicks Head deal a reasonable compromise

Green co-leader Rod Donald has welcomed the protection of Young Nicks Head from foreign ownership.

Finance Minister Michael Cullen today approved the sale of the station on the basis that the buyer gift the headlands, cliffs, a pa site and the peaks to the people of New Zealand. The buyer has also agreed to establish a covenant through the QEII Trust to protect the remainder of the headland from commercial development.

"While the Greens are opposed to any land sales to foreign buyers, as compromises go this is a good outcome and the Greens are pleased to have played a small part in brokering this deal," said Mr Donald.

"I would like to congratulate Ngai Tamanuhiri for their strong stand on behalf of all New Zealanders to stop this national treasure falling into foreign control. This outcome would not have been achieved without their determination and willingness to compromise.

"However the Greens would still have preferred the land to have stayed in New Zealand ownership because this sale adds to the one million hectares of New Zealand coastline, productive land and commercial property that is already owned offshore," he said.

The Greens have long called for New Zealand's overseas investment rules to be significantly tightened and in particular for the national interest criteria to include the environmental impact of an investment, the impact on the social fabric of the local community and compatibility with Treaty of Waitangi obligations.

ENDS

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