Green Party seeks to assist Key with overseas investment conundrum

John Key has the opportunity to stop New Zealanders becoming tenants in their own country by supporting a Green Party Member’s Bill, Green Party Co-leader Dr Russel Norman said today.

While in China earlier this month Mr Key expressed concern that foreign owned companies buying up New Zealand farms could result in New Zealanders becoming tenants in their own country.

Today Dr Norman released a Member’s Bill that would effectively stop the purchase of New Zealand’s productive dairy industry by restricting the sale of farmland over five hectares to overseas investors.

"The Key Government has been sending out mixed messages on overseas investment,” said Dr Norman.
"While John Key is expressing concern about foreign investors buying up our productive farmland Bill English is busy investigating how to make investment easier for foreign companies with his seemingly never-ending Overseas Investment review.

“The Green Party considers that New Zealand land should remain under the ownership of New Zealand citizens or permanent residents and shouldn't be sold into foreign ownership.

“Receivers acting on behalf of overseas banks are poised to sell huge chunks of our prime dairy land to the highest bidder.

“It is not the job of these receivers to protect New Zealand’s long term economic interests but it should be the Key Government’s,” said Dr Norman.

Note: The Green Party has sent all other political parties a copy of Dr Norman’s Bill.
Link to Dr Norman’s Bill:
http://www.greens.org.nz/bills/overseas-investment-restriction-foreign-ownership-land-amendment-bill

ENDS

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