Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Dairyworks Takeover should be Ministers’ Decision

Ministers should accept responsibility for the final decision on the takeover of the second largest cheese maker in New Zealand, Dairyworks and not hide under the skirts of the Overseas Investment Office.

The $112 takeover bid is by Synlait - owned 39% by the provincial government of Shanghai and therefore ultimately the government of China.

Synalit also purchased Talbot Forest Cheeses earlier this year, which gives it a dominant position in the manufacture of New Zealand cheese.

Given the Ministerial Directive issued to the Overseas Investment Office in late 2017, and the proposals for a revamp of the OIO legislation made public last week, which contain a "national interest" provision, ministers David Parker and Eugene Sage should be making the final decision.

The Ministerial Directive clearly states that “The merits of investment in the primary sector can be less compelling given that we are already world leaders in this area”.

“In our view having over 50 percent of the country’s cheese making capacity in the hands of an overseas owned company registered in the Cayman Islands does not provide the "substantial and identifiable” benefit for New Zealand that the directive calls for” Chris Leitch says.

The takeover of Dairyworks is another step in the chess game that China is implementing to secure checkmate over New Zealand's agricultural production and our dairy industry in particular.

“We are already being softened up for a move to change Fonterra's structure to a corporate model which would give share access to outside shareholders and overseas entities” Mr Leitch says.

A Social Credit government would radically change the focus of the Overseas Investment Office to one that is designed to maintain the utmost ownership of New Zealand land and productive businesses in New Zealand hands.

That process would likely involve renegotiating or repudiating the Trans Pacific Partnership agreement and the Regional Economic Cooperation Partnership currently under negotiation, to ensure that New Zealanders and their long term ownership of the country was first priority.

Social Credit has recently lodged a judicial review in the High Court over the Overseas Investment Office decision to approve the sale of Westland Milk Products to Jinjiang, a wholly owned subsidiary of Inner Mongolian Yili, a Chinese conglomerate 25% owned by the Chinese government.


© 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