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Greens Reject Foreign Investment Free-For-All

23 August, 2004

Greens reject foreign investment free-for-all

The Green Party says Labour's growth strategy will inevitably lead to the foreign take-over of New Zealand's land and businesses and the loss of our sovereignty as a nation.

In papers released to the Dominion Post newspaper under the Official Information Act, Treasury recommends that there should be 'no restrictions on ownership of New Zealand assets based solely on the nationality of the investor'.

"Treasury claims the need to remove restrictions on foreign investment is a necessary component of Labour's so-called 'global connectedness strategy'," Green Party Co-leader, Rod Donald said today. "Its recommendation exposes the fundamental flaws in Labour's Growth and Innovation Framework.

"Labour's desperation to increase overseas investment will inevitably lead to the buy-up of our best land and most profitable businesses and leave us at the mercy of foreign speculators.

"It's no surprise that the Australia-New Zealand Business Council is behind this anti-democratic agenda.

"However, its executive director is dead right in fearing the influence of the Green Party in the next government," said Rod Donald. "The Greens do want greater protection from foreign rip-off merchants and we would negotiate that as part of any support agreement with Labour.

"We believe that most people are opposed to the agenda concocted by Labour and the Business Council because New Zealanders understand the importance of retaining ownership and sovereignty of their own country."

ENDS


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