Parliament

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 The EU’s Beef With Google

There’s every indication that Google would be on a losing wicket if it chooses to fight the European Union competition watchdogs, who have just levied a $3.3 billion fine on the firm – with the prospect of worse to come if Google doesn’t quickly change the anti-competitive practices at the heart of a court battle that’s been seven years in the making.

Essentially, the case involved Google’s alleged abuse of the stranglehold it enjoys on the online advertising associated with its search activities. More>>

 
 

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>

ALSO:

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog