Rt Hon Winston Peters
New Zealand First Leader
Member of Parliament for Northland
11 APRIL 2016

PM Cannot Be Trusted on Panama Papers Review

The shift on the Panama Papers by the Prime Minister will not restore New Zealand’s reputation from being a tax haven – Mr Key cannot be trusted to take the matter seriously, says New Zealand First.

“Mr Key’s so-called expert will not have the respect of such groups as Transparency International and the UK Tax Justice Network and will not allay claims about New Zealand being a tax haven,” says New Zealand First Leader and Member of Parliament for Northland Rt Hon Winston Peters.

“The Prime Minister confusedly and conveniently announces this review at the same time as he again asserts the integrity of New Zealand trust laws.

“If our system has integrity this review would not be required.

“Clearly from expert international comment our system doesn’t have integrity anymore and information emerging from the Panama Papers should suggest to the PM and his Cabinet that political damage control measures won’t fix this cancer on our reputation as a country.

“As early as 2011 Mr Key knew of the Santa Tereza Services Ltd Partnership connection with New Zealand.

“It involved Brazilian Alberto Youssef, who in a plea bargain, admitted it was ‘a money laundering business front’.

“His former minister Simon Power alerted him in 2011 to what was going on in NZ entities.

“Mr Key also knew of the Geoffrey Taylor-linked New Zealand company SP Trading, associated with attempts to smuggle 35 tonnes of North Korean weapons into Iran.

“New Zealand is part of the ‘five eyes’ arrangement which also means Mr Key must have known.

“These cases, and numerous others to come, suggest the PM should stop his bluster and take the issue deadly seriously.

“It is a question of trust Mr Key and right now even staunch National Party supporters are having their doubts,” says Mr Peters.

ENDS

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