Media Release

4 March 2008

Asset Protection A Step In The Right Direction

New Zealand First strongly supports moves by the Finance Minister to provide greater protection for major strategic assets from foreign investors, but believes more can be done to protect other New Zealand assets, says party leader Winston Peters.

“The public has made it clear that they do not want to see important strategic assets like Auckland International Airport sold, or be allowed to fall into the control of overseas investors. It is great to see the Government has taken notice and acted,” said Mr Peters.

“We also welcome the fact that the changes will not only affect the sale of the airport, but will limit the ability of foreign investors to purchase other major strategic assets such as the ports of Auckland and Tauranga.

“While the Minister’s actions are an excellent step in the right direction, he should do more to protect other assets from foreign takeover. While many of our major assets have already gone courtesy of the frenzied sell-off in the eighties and nineties, more are snapped up by overseas investors each year.

“Keeping Kiwi assets in Kiwi ownership and control is crucial if New Zealand is to have any chance of a prosperous future. Dr Cullen has made a start, but more must be done,” said Mr Peters.

ENDS

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