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

 


New Zealand Initiative More like New Zealand Submissive

New Zealand Initiative More like New Zealand Submissive

New Zealand First recommends the authors of the “Open for Business: Removing Barriers to Foreign Investment” report should bring themselves up to date.

“Have the authors, the New Zealand First Initiative, not noticed that the barriers to foreign investment were removed decades ago?” asks New Zealand First Leader Rt Hon Winston Peters.

“Do they not remember that when the floodgates to foreign ownership were opened in 1984 foreign ownership of the New Zealand share market was 19 per cent.

“Today, 30 years later, it is around 70 per cent.

“Hardly a day passes without another foreign buy up of an existing New Zealand-owned asset, a business or resources. The latest is CHH’s pulp, paper and packaging going into Japanese hands for a billion dollars.

“It’s been an open-for-sale approach for years yet the result under foreign investment-ownership is productivity more than 20 per cent below OECD average, a lacking of innovation and a reliance on a few raw materials.

“We have a huge and growing gap between the rich and poor, a ballooning debt and every day the number of New Zealand companies producing goods of added value is diminishing. Much of this is the result of the lowering of barriers.

“Back when this economic experiment started in 1984, our biggest bank was New Zealand owned.

“On examination, the New Zealand Initiative report is hopelessly flawed, extremely right wing, and demonstrates little understanding of overseas ownership conditions.

“Countless countries have barriers to foreign ownership, and China in particular.

“Arguing that New Zealanders who bought on a New Zealand only market should now have the right to sell everything and anything on the world market, demonstrates how facile their logic is.

“Do they not understand whilst one can move to Australia, hundreds of thousands of New Zealanders are being denied equality of citizenship in that country.

“Removing all screening barriers would simply be a recipe for wholesale money laundering in the New Zealand economy.

“Their statement that ‘the onus of proof for keeping our regulated FDI (foreign direct investment) regime should be on those who want to keep it’ is not only stupid, but a call to economic anarchy.

“But perhaps the level of integrity that should be attached to this report, is best judged by demanding an embargo till 11am today, whilst they appeared defending their report on TV1 and TV3 four hours earlier.

“All in all, this report has the depth of a bird bath,” says Mr Peters.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Patience: Drive Safe

Be patient before passing is the AA's message for drivers this Labour weekend.

"People taking crazy risks to get past other vehicles is one of the most dangerous things on the road,” says AA spokesperson Dylan Thomsen.

“The weather is looking good for the long weekend so the roads will be busy. Unfortunately, that also increases the chances of people getting frustrated and trying a risky passing manoeuvre. When they get past, there will probably be more traffic up ahead anyway so it won’t get people there faster.” More>>

 
 

Parliament Today:

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Gordon Campbell: On Pharmac, Gough Whitlam And Sleater-Kinney

We’re not at the outset of these negotiations. The outset was six years ago, and negotiators were hoping to have some sort of ‘framework’ deal finished in time for the APEC meeting in a few weeks’ time. These ‘extreme’ positions are what we’ve reached near the intended end of the negotiations… More>>

ALSO:

PM Of Many Hats: Questions, No Answers On Whale Oil

Dr RUSSEL NORMAN (Co-Leader – Green) to the Prime Minister: How many times since November 2008 has he spoken with blogger Cameron Slater on the phone and how many times, if any, has he texted him?
Rt Hon JOHN KEY (Prime Minister): None in my capacity as Prime Minister. More>>

ALSO:

Aussie Investigation Dropped: Call On Minister McCully To Pursue The Case Of Balibo Five

West Papua Action is deeply concerned at the lack of any clear outcome from the Australian Federal Police inquiry into the 1975 deaths of the ‘Balibo Five’ including NZ journalist Gary Cunningham. More>>

ALSO:

'Feed The Kids' Bill: Metiria Turei To Lead Fight On Feeding Hungry Children

Green Party Co-leader Metiria Turei is urging all political parties to support the Feed the Kids Bill which she inherited today from Mana leader Hone Harawira. More>>

ALSO:

Parliament Today: State Opening Of Parliament

The House sat at 10.30am on Tuesday before MPs were summoned to hear the Speech from the Throne in the Legislative Council Chamber. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news