Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Bill seeks protection for Kiwi farmers

Damien O’Connor
Spokesperson for Primary Industries

16 August 2012

Bill seeks protection for Kiwi farmers

Labour’s Primary Industries spokesperson, Damien O’Connor, has lodged a private members Bill aimed at protecting Kiwi farmers by limiting outside and foreign investment in Fonterra.

“Fonterra, a farmer owned cooperative and New Zealand’s largest agricultural company, was set up through legislation to give it the strength and advantages needed to take on the world.

“Recent legislative changes have opened the way for the purchase of investor units with rights to dividends and share value appreciation. Unfortunately attempts by Labour to safeguard the company by capping the size of the investor fund were blocked by the Government, despite having the support of many farmer shareholders.

“My bill looks to rectify that by limiting the total amount of tradable shares to 20 per cent, the level the Fonterra Board claims is critical to the on-going farmer control and ownership of the co-operative.

“It means farmers will be safeguarded from growing outside pressure to sell down the co-operative through tough times.

“National refused to intervene and protect the Crafar farms from being sold to overseas interests. Without better protection for Fonterra farmers, their unique Kiwi co-operative could also end up in foreign hands,” said Damien O’Connor.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Uncanny Valley Of Tokyo 2020

For all involved, this year’s Olympic Games have called for a willing suspension of anxiety. For now at least, the displays of skill and agility have been compelling enough to muffle some of the previous misgivings about the wisdom of asking athletes from all corners of the world to converge in one place in the middle of a pandemic, and at the height of a Tokyo summer... More>>



Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>

Government: Cabinet Accepts Turkish Authorities’ Request For The Managed Return Of Three NZ Citizens

Cabinet has agreed to the managed return of a New Zealand citizen and her two young children from Turkey, Prime Minister Jacinda Ardern announced today. The three have been in immigration detention in Turkey since crossing the border from Syria earlier this year... More>>


Government: Quarantine Free Travel With Australia Suspended

Quarantine Free Travel from all Australian states and territories to New Zealand is being suspended as the Covid situation there worsens, Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins announced today... More>>


NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>

Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>




InfoPages News Channels