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

 


More evidence of need to clamp down on overseas ownership


More evidence of need to clamp down on overseas ownership of farms and houses


On the back of Treasury, Reserve Bank and economist warnings that high net migration will lead to higher inflation, interest rates and house prices, we now have a large international fund manager targeting New Zealand and Australian farms for overseas investors, Labour’s Finance spokesperson David Parker says.

“UBS Global Asset Management has announced it has set up a ‘farmland investment advisory service to meet the growing institutional demand... particularly from Asia. The new capability will offer direct farmland ownership...’

“Home ownership rates are the lowest in 50 years, a sure sign of rising inequality.

"The same thing is happening to our farms, with ownership increasingly concentrated amongst an ever wealthier small minority.

"This is made worse by allowing overseas ownership of our farms. Overseas buyers compete with locals and make it less likely sharemilkers can graduate to owning their own farm.

"New Zealanders are already amongst the best farmers in the world. Selling off the future income by allowing our productive farmland to be sold off to the highest offshore bidder makes no sense.

"This is more evidence that Labour’s polices to clamp down on foreign buyers of our homes and farmland are the right thing to do.

"It is the right of New Zealanders to own our land, not the right of those who do not live here.

“A Labour government will restore the Kiwi dreams of owning your own home or buying a farm. We will tax capital gains, clamp down on overseas speculators and build 100,000 affordable homes to take the pressure off house prices,” David Parker says.

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