20 July, 2004

Copeland: Better access protection for land sales welcomed

United Future finance spokesman Gordon Copeland together with Paul Check of Outdoor Recreation NZ today lent their support to the Government's announcements concerning the sale of land and other assets to overseas buyers.

"In particular we welcome the inclusion of walking access in the criteria for land sales and the Crown's right of first refusal in respect of any foreshore or seabed land.

"This will assist access to the outdoors for New Zealanders.

"The new monitoring and enforcement regime is also welcomed. This has been a serious defect in the present overseas investment rules and its rectification should ensure that we have no repeat of the most unsatisfactory Durville Island debacle.

"The increase in the threshold for business assets from $50 million to $100 million is also welcomed since it will ensure that New Zealand remains an attractive destination for business investment."

ENDS

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