Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Economic ignorance on display again by Winston Peters

Media release

16/07/2014

Economic ignorance on display again by Winston Peters

Jenny Shipley, a former prime minister of New Zealand, has accepted a position on the board of CCB New Zealand, a wholly owned subsidiary of the China Construction Bank.

According to Winston Peters, this is “economic treachery”. He thinks Ms Shipley should not be “allowing us to be used in this way” – by which I presume he means that she should not be helping a foreign bank operate in New Zealand.

About 1 in 6 New Zealanders work for a foreign owned company. I wonder if Mr Peters thinks they are all treacherous. Or is it only ex-politicians who work for Chinese companies who are treacherous? Mr Peters’ constant hyperbole is becoming boring.

So are his incessant displays of economic ignorance.

The idea that foreign firms harm us by offering their goods and services here is nonsense. No one will be forced to work at CCB New Zealand. No one will be forced to rent their office space to CCB. No one will be forced to borrow from CCB. Anyone who decides to do such things must consider CCB better than his alternative employers, tenants or lenders. CCB must be making him better off. No one is being “used” as Mr Peters puts it.

The only bank in New Zealand that “uses” people is Kiwibank. Unlike the other banks in New Zealand, Kiwibank’s capital was not contributed by voluntary investors. It was extracted from taxpayers with no choice in the matter. Bailouts of financial and other companies also “use” people.

But companies who enter the New Zealand market without any taxpayer funding or government guarantees are taking all the risk. They invest in New Zealand because they see a country rich in promise. They bring their capital, skills and entrepreneurial acumen. We should welcome them. And Winston Peters should stop peddling his ugly and ignorant economic nationalism.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news