National Scared of Real Figures on Foreign Ownership

National is running scared of the real facts on the foreign buy up of New Zealand, says New Zealand First.

“That was proved in Parliament today when the government refused to pick up New Zealand First’s bill to create a register of foreign ownership,” says New Zealand First Leader Rt Hon Winston Peters.

“Too often the Prime Minister has claimed the percentage of foreign ownership is low – of course he has no idea because no one counts the sales.

“The government could change this quickly with New Zealand First’s Land Transfer (Foreign Ownership of Land Register) Amendment Bill, but they are obsessed with allowing foreigners to buy homes and land, and they don’t want the public to know the numbers.

“Even Australia has now seen the need for a register. Following a review of foreign buying, sparked by a wave of Chinese purchases, it is now likely to set up a register with penalties if sales are not recorded.

“While Australia restricts foreign buyers, its watchdog failed to monitor sales leading to a flood of foreign ownership and fears the Aussie dream of home ownership was in danger.

“National appears unconcerned that its inaction and immigration free for all is undermining the chances of Kiwis to own their own home.

“Even the Ministry of Business Innovation and Employment has told the government record net migration means there are nowhere near enough houses for everyone.

“New Zealand First suggests the government acquires land and embarks on a major home building programmes instead of dilly dallying around the edges of this national problem.”

ENDS

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