NZ land is for Kiwis

The Kiwi Party
Press Release
13th October 2008

"The buy-up by government of the high country station of St James in the upper Waiau area of Canterbury, exposes the inadequate controls on foreign acquisition of New Zealand land," says Larry Baldock, leader of the Kiwi Party.

He said the Prime Minister Helen Clark and Minister of Conservation Steve Chadwick have publicly admitted the purchase was done out of fear of the station being bought by foreigners.

"This is tantamount to saying any of New Zealand's high country ownership is under threat and that the law is unable to prevent foreign acquisitions," he said.

" It also proves Government's 2005 Overseas Investment Act is a failure despite Finance Minister and ex-history school teacher Michael Cullen and PM Helen Clark's self praising it as affording protection to iconic land. New Zealand land is for Kiwis."

Mr Baldock said there is an obvious urgent need for much stricter controls on foreign investment in light of government's admission of the failure of the 2005 amendment to the Overseas Investment Act. The Kiwi Party's policy demands an urgent upgrading of the Overseas Investment Act to protect both the land and public interest.

ENDS

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