Make all agricultural land leasehold

Friday, 22 October 2010, 2:23 pm
Article: sticK

Making agriculture land leasehold a ‘foreign owned’ solution

(sticK - Oct. 22 2010 ) The danger that New Zealanders could become tenants in their own land has encouraged ex-pat kiwi, David Mahon, to suggest that all agricultural land should be changed from freehold to leasehold.

This would enable New Zealand to fairly and rationally deal not just with Chinese interest in agricultural assets, but also foreign ownership in general says the Beijing-based advisor (Mahon China Investment Management Ltd.), who also chairman of the China advisory board for NZ Trade & Enterprise’s Beachheads programme.

“The question before New Zealand is not how to block foreign investment in the agricultural sector, but rather how to prevent the purchase of agricultural land by interests that will not develop it to its full potential,” he says. “As long as land can be purchased without the obligation to use it for the common good of all New Zealanders, the country’s economic future, which depends so much upon agriculture, is in doubt.”

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