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National Blunder Repulsive To Investors

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National Blunder Repulsive To Investors

Libertarianz leader Richard McGrath today flayed finance minister Bill English for blocking the sale of an Australian-owned ironsand business to a Hong Kong company, saying this will inflict serious damage to New Zealand's reputation as an attractive place for entrepreneurs and prospective employers.

"Mr English appears to have forgotten his own party's stated goals of limiting government interference and promoting competitive enterprise," said Dr McGrath. "These are values which the Libertarianz Party has always advocated, but which the National Party seems to remember only when it suits them."

"Changing ownership of a business often means the injection of fresh ideas, resulting in positive changes and the prospect of employment for the local community," said Dr McGrath. "Our finance minister has just stopped a Hong Kong billionaire from further developing this ironsand company and possibly offering jobs to New Zealanders in a time of recession. Dumb move, Bill!"

"National were critical when the Clark government sabotaged the part-sale of Auckland International Airport last year, yet now seem keen to interfere in a commercial matter which is really none of their business. They seem to lack integrity."

Libertarianz believes in a hands-off laissez-faire approach to private enterprise, and would allow businesses and investors to succeed or fail on their own merits, with no taxpayer bailouts, only stepping in when fraud or physical violence was used or threatened.


ENDS

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