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

 


Another Kiwi business sold offshore

Another Kiwi business sold offshore

The sale of Kiwi business Pacific Steel to an Australian company is concerning to all New Zealanders who want to see locally-owned industries thriving, Labour Leader David Cunliffe says.

“Pacific Steel is an excellent New Zealand business. Its sale to Australian buyers is a worrying development, yet National simply shrugs its shoulders and lets it go.

“When Fisher and Paykel was sold overseas barely a murmur came from John Key and Steven Joyce. They don’t seem to care.

“Foreign investment is not a bad thing but in New Zealand it is going too far. Too many of our local companies have been snapped up by overseas buyers and the profits are flowing into the hands of overseas investors, rather than staying in New Zealand and keeping Kiwis in jobs.

“The problem is there isn’t enough money in New Zealand to invest in keeping Kiwi companies here. Our dismal savings rate means we don’t have the investment pool here to put money into New Zealand companies. Meanwhile most investment in New Zealand goes into housing speculation, not the industries that need it most.

“That’s why our manufacturing sector is only being propped up by primary industries and the Canterbury rebuild.

“Our policy of making KiwiSaver universal will boost our investment pool and our capital gains tax and research and development tax credits will get that investment into companies that need it most.

“That’s how Labour will help keep Kiwi companies Kiwi. National will continue to stand by and do nothing.

“BlueScope Steel and Fletchers have pledged to keep workers employed until after the Otahuhu mill is decommissioned at the end of 2015. Labour will make sure they keep that pledge,” David Cunliffe says.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bill English Living In Denial

The working poor have been a direct byproduct of the economic policies in vogue for the past 30 years or more, all over the Western world... That anger was evident in the Brexit vote, and it underlies the support for Donald Trump in the United States. More>>

ALSO:

Final Reading Of Parental Leave Bill: Families With New Babies Victims Of Veto

“For the first time ever, a Bill will have a third reading debate and no vote will be taken at the end because the National Government has used its veto – an extreme measure against families,” says the Bill’s sponsor, Labour MP Sue Moroney. More>>

ALSO:

Water, Pests, Erosion...: Commissioner Releases Mixed Report Card On Environment

The Parliamentary Commissioner for the Environment has released a mixed report card in her assessment of the state of New Zealand’s environment. “We are lucky to live in an exceptionally beautiful country, but we have some big issues to face up to” said Dr Jan Wright. More>>

ALSO:

Education: Private Schools Beneficiaries Of Extra Cash

“Not only did this year’s Budget freeze operational funding for state schools, but 86 per cent of secondary school principals say they don’t get enough funding, and the demand for school donations from parents is rising at 10 times the rate of inflation... Now we’ve got Hekia Parata proposing more cash for private schools." More>>

ALSO:

Shop Hours Bill Second Reading: Government Blocks Easter Trading Petition

The union representing retail workers is warning that the Government is out of touch with working people after passing the second reading of the Shop Trading Hours Amendment Bill, a law handing local authorities the power to permit trading on Easter Sunday. More>>

ALSO:

Gordon Campbell: On The Shewan Inquiry Into Our Tax Haven Rules

Like the political equivalent of lithium, Prime Minister John Key is routinely administered to dull any politically dangerous mood swings amidst the general public... More>>

ALSO:

Law Commission: Review Of Search And Surveillance Act Begins

“For example, the Act was drafted before cloud-based storage of data was commonplace. In the light of these and other developments, the Commission will be examining whether the investigative powers in the Act are sufficient for law enforcement purposes. We will also consider whether the safeguards that surround those processes are adequate.” More>>

ALSO:

Houses, Campers And Cops: LGNZ Media Briefing

At their quarterly media briefing today Local Government New Zealand addressed areas where local authorities are feeling pressure and outlined their approach for the upcoming local body elections in September-October. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news