5 November 2015

Govt refuses to even try to fix its Korea land sales mistake

National refuses to fix its major blunder in the Korean FTA which allows Kiwi homes to be sold to Korean investors – creating a flow on effect with other trade partners such as China, says Labour’s Export Growth and Trade spokesperson David Parker.

“Tim Groser got this wrong. It is all the more remarkable when the Australians have managed to keep the right to ban foreign home buyers in their FTA.

“The fact that in Parliament today Mr Groser says he will not even try to fix this shows how out of touch he is with New Zealanders’ concerns.New Zealanders want Kiwis to own our homes and not to be outbid by wealthier foreign buyers.

“Mr Groser also would not confirm whether or not South Korea has reserved the right to ban New Zealanders (people not companies) buying Korean homes.

“Overdue written questions on similar issues in the TPP negotiations are another example of the minister ignoring the rules. This comes a month after the High Court found his refusal to answer Official Information Act requests illegal.

“Tim Groser has to come clean with New Zealanders on what he has signed away. Australia can stop foreigners buying Australian homes. We should be able to do the same,” says David Parker.

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