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

 

PARLIAMENT TODAY:

Gordon Campbell: The PM’s Hair-Pulling Power Trip

There have been striking differences between (a) the account of the waitress involved in the hair-pulling incidents, and (b) the account being given by Prime Minister John Key. The version by the waitress is available here and is recommended to anyone yet to read it. By her account, there were multiple instances of hair-pulling and these persisted and persisted long after she had made her annoyance clear to Key – who had also been advised by his wife, and by other café staff that the behavior was evidently not being welcomed. More>>

ALSO:

War: What’s To Commemorate?

Gordon Campbell in Werewolf: Is there anything that can be validly commemorated on this 100th anniversary of Gallipoli? Beyond, that is, a fleeting sense of empathy with the thousands of soldiers killed or wounded on April 25 1915 and in the months thereafter, until the whole thing was finally called off in December 1915. More>>

MORE IN WEREWOLF:

ALSO:

Peter Ellis Case: Minister Declines Request For Commission Of Inquiry

Justice Minister Amy Adams has declined a request from supporters of Peter Ellis for a Commission of Inquiry on the basis that an inquiry cannot be used to determine the liability of any person. More>>

Quakes: New Process For Red Zone Crown Offers

Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

ALSO:

Gordon Campbell: On The Battle Obama Is Waging Over The TPP

For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

ALSO:

Greens: Govt Breaks Free Doctors Visit Promise To Kids

Documents obtained by the Green Party show that the Government decided to fund only 90 percent of doctors’ visits for children suffering from an injury in an attempt trim the cost of the so-called “free” visits. More>>

ALSO:

Other Wars: Extension Of NZDF Commitment In Afghanistan

The New Zealand Defence Force’s commitment of mentors and support staff to the Afghan National Army Officer Academy in Afghanistan has been extended out to December 2016, Defence Minister Gerry Brownlee says. More>>

PM's Press Conference: Auckland Property Prices Increasing "Too Rapidly"

John Key accepted that Auckland property prices 'are going up too rapidly” in a press conference held today in Wellington, however he said that this is not anything new. More>>

ALSO:

Press Conference: ANZAC PMs Concerned About ISIL Bringing The War Home

Prime Minister Key and Prime Minister Abbott spoke of the bond formed between Australia and New Zealand in the “baptism of fire” of Gallipoli. Abbott stated that New Zealand and Australia’s values and interests are linked, and this is reflected in the joint operation in Iraq which will begin shortly. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news