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

 

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news