Parliament

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

 

Lochinver appeal shows OIO reform needed

15 October 2015


Lochinver appeal shows OIO reform needed


Pure 100’s appeal of the Overseas Investment Office’s Lochinver decision shows the Office’s rules need to be tightened and toughened up immediately, says Labour’s Land Information spokesperson Stuart Nash.

“At the moment you could drive a truck through the legal loopholes in the OIO. The law is vague and gives the minister so much leeway, decisions are ripe for appeal.

“This drags out a process that has taken over a year for Lochinver and now averages almost two months per consent request. Meanwhile funding and staffing for the Office has stalled for the last four years.

“Sellers and buyers have no certainty and don’t know where they stand. This is no way to get the right foreign investment into our country.

“Labour’s position is to reform the Overseas Investment Act to make rules clearer and tighter and the obligations on foreign investors more apparent.

“We would create a publically accessible register of foreign owners, ensure investors are held to account for their job creation and growth promises and conduct spot audits.

“There is no doubt that both the Overseas Investment Act and the Overseas Investment Office need a real shake up because they are simply not delivering.

“New Zealand needs good quality overseas investment that is going to deliver for our country and community. This means an overseas investment regime that is fit for purpose. Our current one isn’t,” said Stuart Nash.

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Why Herd Immunity Isn’t A Valid Option, And What’s With Our Reluctance To Wear Masks?

Herd immunity has recently bounced back into the headlines as a tool for managing Covid-19, and as a supposed alternative to lockdowns. In the US, a group of scientists was recently brought together in the town of Great Barrington, Massachusetts by a think tank funded by the Koch brothers. The assembled scientists signed the so called Barrington Declaration, which promotes herd immunity as a rational means of re-opening US public schools and the economy at large... More>>

 

Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ... More>>

ALSO:

Green Party: 'Fruitful Discussions ... Further Discussions To Have'

The Green Party says there is a negotiation going on with the Labour Party, but there are more discussions to be had. More>>

ALSO:


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

PSA: Labour-Led Government Has Mandate For Transformation, Equality And Transparency

The Public Service Association welcomes the progressive electoral landslide New Zealand voters delivered on Saturday, and the union says its members look forward to implementing policies that reduce poverty and inequality, support affordable housing ... More>>

ALSO:


Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>

Gordon Campbell: On Four-Year Terms Of Parliament, And On How The US Courts Are Dismantling Democracy

Last week, the issue of four-year parliamentary terms surfaced again. Infuriatingly, it is being discussed purely in terms of its convenience for political parties. They’d get so much more time to enact their policies, free of scrutiny or sanction by voters ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels