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

 


Peters: Stopping the Sale of New Zealand

Rt Hon Winston Peters
New Zealand First Leader
27 August 2014

Katikati Public Meeting
Wednesday 27 August, 1pm

Katikati War Memorial Hall, Main Rd, Katikati

Stopping the Sale of New Zealand
Futility of offshore ownership of house building companies.
What New Zealand First will do.

Thank you for the opportunity to be here today and talk about what matters to New Zealanders.

New Zealand First is making foreign ownership a major theme in this election campaign for very good reasons.

New Zealanders know we are headed in the wrong direction on foreign ownership of our country.

And that is why New Zealand First is committed to halting and reversing the sell-off of our country.

Foreign ownership needs to be put in the wider context of our economy.
In case anyone forgets, for years we have been exporting or as they say “offshoring” our manufacturing base.

Go to any provincial town, places like Foxton, Oamaru and Masterton.
You will see premises of former factories that once employed hundreds – now theu are all gone!

We were told that that was the price of globalisation.

In the Brave New World of globalisation we were told we had to concentrate on our comparative advantage - as a primary producer.

That was the theory at least.

But where is National actually taking New Zealand?

Well, let us look at the reality of where we are at today.

Many of our best and most profitable businesses are now under foreign ownership.

For example, Fisher and Paykel Appliances went to Chinese whiteware maker Haier in 2012.

This year the Auckland biscuit seller Griffin’s Foods has gone to Universal Robina of the Philippines.

The supermarkets and chain stores have very high levels of foreign ownership.

The two main media corporates are foreign owned – the Otago Daily Times is the only major daily that is now New Zealand owned.

95% of the banking system is owned by Australian Banks.

The result is billions of dollars in profits and dividends going to Australia every year.

New Zealand is now just the branch office.

Telecommunications – this sector has been under foreign ownership to a large extent ever since the Telecom float.
There is massive foreign ownership of commercial property.

Recently, a Canadian Pension Fund bought a portfolio worth around a billion dollars from an AMP syndicate.
No guesses as to where the rents and profits from those buildings are now headed.

Thanks to the folly of National’s state asset sales a good proportion of the power producing cash cows such as Meridian, Genesis and Mighty River Power have ended up in foreign hands – hundreds of millions of dollars of revenue per annum has been lost.

Recently, Mighty River Power announced a bumper profit increase this year of 82 per cent – that once would have benefited the public.

Wellington’s power lines are owned by Cheung Kong Infrastructure (CKI) Holding. Since taking over CKI has made nothing but losses.

The losses are not real – and CKI bought a bargain not a dud – thanks to tax rules that favour foreign ownership.

Housing

Tens of thousands of New Zealand houses are now owned by people who are neither citizens nor residents of New Zealand.
No wonder that the level of home ownership in New Zealand is at its lowest level since 1951.

But who will really profit from all those houses that National and Labour are promising to build?

Well Universal Homes, an iconic company and one of our leading home builders formed in the 1950s, would be one builder/developer to profit.

But this company is also 100 per cent owned by Chinese interests despite having a shelf company in New Zealand linked to a similar company in Hong Kong but in reality 100 per cent owned by the Chinese government.

So will China be one of the serious beneficiaries of National’s limp plans to deal with the housing crisis?

Land sales

Now let’s look at land – the birth right of every Kiwi.

The facts are alarming.

Over one million hectares of New Zealand land passing through the Overseas Investment Office (OIO) into full or partial foreign control since the National Government came into office.

That’s six times the size of Stewart Island.

A staggering loss of sovereignty.

The Prime Minister is maintaining his mantra that it does not matter – it’s trivial.

In simple terms, under National there is a culture of priority for foreigners over New Zealanders.

They have calculated that the amount of funding that will flow back to National coffers from supporting foreign interests is bigger than if they support New Zealand interests.

It’s that cynical a calculation for National.

Those challenging New Zealand First’s stand use four weak arguments to dismiss New Zealanders legitimate concerns.

Like Mr Joyce and the Prime Minister they say “it’s trivial”.

They say the amount of land being sold “is minimal”.

Really?

A million hectares have been sold into full or partial foreign ownership under National.

They say “but our predecessor did it too”.

They say they have “a process to vet each sale”.

Selling almost 14,000 hectares in one sale is not trivial, nor is letting one foreign owner have 26,000 hectares of farmland.

They ignore that fact that all the sales are cumulative.

We are not buying our land back – it’s a one way process.

And it’s no excuse for National to say that because your predecessor did it too then it’s alright.

Labour at least are now contrite.

They have looked at the facts and changed their policy.

It took them far too long to come to the New Zealand First position but they have woken up at last.

Changing your position in light of the facts is the hallmark of rationality.

National are just pretending that there are no facts.

Overseas Investment Office

The Overseas Investment Office (OIO) process is a sick joke.

It is a total façade – the pretence of doing something whilst rubber-stamping all applications from abroad.

The OIO has been approving a sale, on average over the past three years, every three days.

And the OIO completely fails to take into account the favourable tax position that applies to foreign owners.

Our critics say that any discussion of foreign ownership is racist and xenophobic.
So any criticism of foreign ownership is an attack on foreigners.

Let’s make it crystal clear, New Zealand First is opposed to the foreign takeover of New Zealand from any source.

But there is a big distinction between people like James Cameron the US film director and Chinese buyers.

Mr James Cameron is an individual but behind every Chinese buyer stands the State.

Effectively Shanghai Pengxin, who have been buying dairy land wholesale in Crafar Farms and Lochinver Station, is an arm of the Chinese state.
There is a word for this sort of state takeover of another country.

It’s called colonisation!

One of these days soon, New Zealand is going to wake up to the fact that the golden goose, dairying, and our marketing of it is no longer in our control.

Our brand is seriously being put at risk because we are naively allowing others to control it.

The National Government is deeply infiltrated and funded by foreign money interests – the Oravida scandal exposed the deep web of collaboration and collusion that reaches to the top of the National party.

Recently, over 16,000 New Zealanders participated in a Television poll asking if New Zealand land should be sold to foreigners.

94 per cent said no.

Are those 94 per cent all xenophobic racists?

No.

They are patriotic New Zealanders deeply alarmed at what is happening to their country.

What will New Zealand First do?

New Zealand First is committed to action to put the brakes on the sell off.

This is what New Zealand First is going to do.

We have a comprehensive programme to own our own country again.

That programme has a number of elements.

We’ll pass a law for a register of all land and house ownership.

We’re going to know, finally, who owns what and where.

And we’ll catch land and houses using the trust ownership veil as well.

We will impose rigorous control on land, house and state business sales to foreign interests.

The rubber-stamp is going in the bin.

And we will start the buy back,

We will use the Cullen fund and our KiwiFund, and tax law, to buy back what were once our assets.

KiwiFund, our new KiwiSaver option, will be run by a government agency with low fees and a capital return guarantee will invest primarily In New Zealand assets like land as well as infrastructure.

Like all our policy, our approach to foreign ownership is realistic, practical and affordable.

It’s just common sense!

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On What John Key Should Be Asking Joe Biden

No doubt, US Vice-President Joe Biden will be updating Prime Minister John Key on the chances of a TPP vote taking place in the ‘ lame duck’ session of Congress that’s held between the November’s election and the inauguration of a new President in January. More>>

ALSO:

Make NZ Make Again: Greens Will Establish A Minister For Manufacturing

The Green Party announced today that it will establish a Minister for Manufacturing in Cabinet, to better represent the interests of manufacturers and ensure they thrive. The Minister will be inside Cabinet and have responsibility for the long-term interests of the manufacturing sector. More>>

ALSO:

Cannabis Party: Treasury Figures On Cost Of Criminalisation

Figures released by Treasury prove the economic viability of The Cannabis Party's policy, while destroying the credibility of police claims about cannabis harms. More>>

ALSO:

Green Party: Investigation Into Mental Health Facilities Shows Disarray

The Health Minister must urgently launch an inquiry into mental health services, after serious issues with the standard of care at mental health and disability facilities around the country were revealed today, the Green Party said. More>>

ALSO:

Apparently He Means 'Years 0-8': Seymour Announces 4th Partnership Schools Application Round

“The continuing growth of this policy reflects the achievement of the eight existing Partnership Schools, and the strong levels of interest educators and community leaders are showing in the Partnership Schools model and what it offers students and their families,” Mr Seymour says. More>>

ALSO:

Trust Directors: Urban Māori Win Case Against Te Ohu Kai Moana

The National Urban Māori Authority (NUMA) and Te Waipareira Trust have succeeded in their claim over a $20 million trust set up for the benefit of urban Māori, meaning all directors of the trust must represent Māori who are not affiliated with an iwi. More>>

New Model: Carbon Tax Could Lower Emissions And Boost Economy

A carbon tax targeting emissions-intensive industries, along with a revamped Emissions Trading Scheme (ETS), could boost economic growth, with the extra tax generated used to cut GST from 15 percent to 12.5 percent. More>>

ALSO:

Budget Docs Release: ACC Sought $158mn In Budget 2016, Got $26.4mn

The Accident Compensation Commission requested an extra $158 million in funding for 2016/17 from the government ahead of Budget 2016, but Treasury instead recommended an interim payment of just $26.4 million be funded to tackle demographic changes, papers published by the government show. More>>

ALSO:

Submissions Sought: Māori Party Joins Opposition Housing Inquiry

People who are homeless, those who were once homeless, those working with the homeless and concerned New Zealanders are being asked to share their experiences and solutions to this growing issue with the Cross-Party Homelessness Inquiry. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news