13 MAY 2015

Unease Grows as More Farms Fall to Foreign Corporates

Foreign corporate buy-up of farms should be ringing alarm bells with the government, says New Zealand First.

“There’s growing unease around the country that we are losing control of our own land,” says Spokesperson on Commerce, Trade and Revenue Fletcher Tabuteau.

“A 10-farm buy-up has just been signed by Chinese interests in Northland and now the Overseas Investment Office has approved the sale of Wheturau Station, near Gisborne, to a UK-based Australian who already owns three farms.

“To foreigners we are a goldmine given most other countries restrict or ban foreigner buyers. We are fools. Shanghai Pengxin, which snapped up the 19 Crafar farms, 13 Synlait farms and signed up to buy Lochinver, near Taupo, has openly said it wants to own 50 farms.

“The family farm and the hard graft that went into making the land productive could soon be forgotten as multi-farm businesses, many foreign owned, take over.

“We will lose control of the land, the product, the exports and the profits and keen Kiwis will be priced out of farm ownership.

“There’s little gain for New Zealand.

“New Zealand First wants a ban on sales to non-residents. The wholesale sell-off of our land is not in our interests.”

ENDS

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