INDEPENDENT NEWS

Will Govt. stop land sell-off to overseas owners?

Published: Tue 31 Aug 2010 04:26 PM
Will Govt. stop land sell-off to overseas owners?
The Green Party is calling on John Key’s Government to guarantee that none of South Canterbury Finance’s farmland will be sold to foreign owners.
The Government moved quickly today to repay investors $1.6 billion dollars following the receivership of South Canterbury Finance. This leaves the Crown firmly in control of the wind-up of the failed finance company.
“South Canterbury Finance owns a significant chunk of prime South Island farmland. John Key’s Government can now offer the public a guarantee that none of this land will fall into foreign ownership,” said Green Party Co-leader Dr Russel Norman.
“If light-handed regulation is going to cost us $1.6 billion today, the least the Government can do is ensure that we won’t lose our best farmland in the process.
“Let’s not make this a double disaster for New Zealand.
“The Government can use this opportunity to protect this strategic asset, especially while it wavers on introducing tighter overseas investment laws to restrict foreign ownership of large parcels of farmland.
“The Greens would support any moves to tighten foreign ownership rules on farm land, but National and Labour are reluctant to do anything, in part due to the free trade deals tying their hands.
“Questions also need to be asked as to why the Government continues to tell us of the wonders of light-handed regulation when it has cost us billions in finance company bailouts and to fix the leaky homes fiasco. Both of these disasters were caused by light-handed regulation and and both cases the taxpayer had to pick up the bill for the ideology of the Act Party,” said Dr Norman.
“If it’s too big to fail then it’s too big to avoid strong regulation.”
ENDS

Next in New Zealand politics

Proposed Hate Speech Laws A Step Too Far
By: New Zealand National Party
Government To Phase Out Live Exports By Sea
By: New Zealand Government
New Zealand’s New Housing Policy Is Really Just A New Tax Package — And It’s A Shambles
By: The Conversation
ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform
By: The Conversation
Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint
By: New Zealand Police
Drug-testing Law To Be Made Permanent
By: New Zealand Government
Minister Must Tell Us If He's Parked Hate Speech Laws, Or Not
By: ACT New Zealand
Emotive Live Export Ban A Kick In The Guts
By: ACT New Zealand
World Leading Live Export Ban Means Thousands Of Animals Will No Longer Suffer Overseas
By: SAFE NZ
Feds: Live Export Ban 'surprising'
By: Federated Farmers
Photographs Taken At Police Checkpoint Unlawful
By: Independent Police Conduct Authority
View as: DESKTOP | MOBILE © Scoop Media