Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Greens Launch Petition To Control Foreign Ownershi

10 November, 2004
Greens launch petition to control foreign ownership

The Green Party has launched a public petition, calling on the Government to make it more difficult for foreign investors to buy New Zealand land, buildings and businesses.

"While the Government says it wants to make it harder for New York bankers and Canadian music stars to buy a slice of heaven down under, the truth is, it has no intention of actually stopping such land sales," said Green Party Co-leader, Rod Donald.

The Greens' petition asks Parliament to:

* Oppose the Government's plans to make it even easier for foreign investors to buy-up New Zealand;

* Stop land sales to people who are not permanent residents;

* Ensure that all other foreign investment genuinely benefits New Zealand.

"New Zealanders are paying the price for the foreign buy-up of Aotearoa," said Green Co-leader, Rod Donald. "Kiwi families are paying higher rents, the dream of owning your own home is rapidly turning into a nightmare for even middle-income earners and young farmers can't afford to buy land.

"Labour admits that over the last few years 2,720 hectares of offshore islands, 57 kilometres of coastline and 157,000 hectares of high country leasehold have been sold to overseas buyers. And that's just the tip of the foreign ownership iceberg.

"Most residential and commercial land sales under $10 million are not scrutinised or recorded now. The sell-off is only going to intensify because Labour plans to remove that threshold altogether."

Rod Donald said it was estimated that foreign corporations and individuals already owned more than one million hectares of New Zealand's commercially productive land area.

"And land sales account for only a fraction of what's being hocked-off overseas," said Mr Donald. "Most of our economy is now controlled from the boardrooms of London, Sydney, Singapore, Tokyo and New York."

Rod Donald noted that at the end of June, foreign investment in New Zealand totalled $190 billion, up more than $8 billion on the previous year. New Zealand's net international debt (foreign investment here minus NZ investment overseas) now topped $109 billion.

"Labour says we need more foreign capital. But it comes at a price: precisely $9,488 million in interest payments and profits on those loans and shareholdings last year. The fact that most of it was reinvested here is no consolation. It just means the bill gets bigger, making it even harder to make ends meet."

Mr Donald is also drawing up a private members' bill that would mirror the clauses of the petition.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news