PM USES ABSURD EXCUSE FOR FAILING TO STRENGTHEN FOREIGN BUYER RULES

Prime Minister John Key has absurdly blamed other political parties for his failure to tighten rules around foreigners buying land and businesses, says New Zealand First.

“Mr Key has taken the liberty of saying New Zealand First, and other parties, will not support changes to the Overseas Investment Office, which is blatantly false,” says New Zealand First Leader and Member of Parliament for Northland Rt Hon Winston Peters.

“Neither Mr Key nor any of his government has approached New Zealand First, despite the fact we have pointed out constantly that there are serious deficiencies around the scrutiny of applications and lack of monitoring of buyers’ claims, like job creation.

“There are too few staff to check if sales have indeed been advantageous to New Zealand, which is the whole point of the regulations.

“Questioned in Parliament on approaches to other parties Finance Minister Bill English was defensive, fobbing off the question.

“He was also unaware that Mr Key had confirmed that the office ‘approves nearly everything put in front of it’, which New Zealand First has been pointing out for a long time.

“Mr English also claimed that if there is anything ‘nefarious’ in the company arrangements around the sale of 50% of Silver Fern Farms it would be picked up when the application from the would-be buyer, Shanghai Maling, was assessed. Unlike Mr English we do not have such faith in the OIO,” says Mr Peters.

Link to report on Prime Minister’s statements:

Prime Minister's comments on Overseas Investment Office

Questions in Parliament

ENDS

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