Grant Robertson
Finance Spokesperson

7 October 2015

New Zealand gave away right to protect houses and land in TPP

New Zealand has sold itself down the river by failing to even try to protect New Zealand land and homes from offshore interests in the TPP negotiations, Labour Finance Spokesperson Grant Robertson says.

“Steven Joyce’s admission today that Government negotiators did not even attempt to seek to protect New Zealand land during negotiations in Atlanta is a damning indictment on a Government that appears to care little for our sovereignty or for the wealth of future generations.

“Under the carve-outs they negotiated, Australia can still restrict foreign buyers of its homes. Malaysia will still ban foreign ownership of affordable housing, Singapore and Vietnam will still restrict foreign investment.

“But it seems that in the Government’s failed attempt to gain better access to dairy markets around the world we have given away the right to protect our land.

“Mr Joyce’s arrogant dismissal of this fundamental error in the negotiations by saying non-resident foreign investors will ‘grow housing supply’ is simply incorrect.

“We have an Auckland housing market where too many Kiwis are shut out by high prices and speculators who are paying far less for their loans overseas are given an unfair advantage over those who fully commit to our country.

“This was always about more than just trade. This is about retaining the right to govern in our own interests.

“Tim Groser must now explain exactly how this will work under TPP and why New Zealanders should support a deal where we seem to have been only the loser,” Grant Robertson says.

ENDS

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