Winston’s Figures Wrong

Winston’s Figures Wrong

Today Winston Peters gave a speech at a Returned Services Association meeting in Rangiora on the aged residential care sector. His speech included completely false information as follows:

Winston says “75% of rest homes are run by overseas companies”.

The truth is about 4,000 out of 34,500 beds are operated by foreign owned companies.

Winston says, “Last year the Overseas Investment Office approved sales of aged rest care facilities worth $1.5 billion”.

The truth is over the last year only one retirement village company, which included 335 aged care beds, was sold for $135 million to Australians. However, in the last year off setting this sale saw the fourth largest aged care provider, Radius, return to full New Zealand ownership. As such foreign ownership of New Zealand’s aged care sector has increased in the last year.

Winston says “They are here solely for profits - big profits”.

The returns made by the aged residential care sector are low. How low will be confirmed in a joint DHB and provider sponsored report to be released in early September.

“Winston is following Sue Kedley’s lead and getting onto the ‘outrage’ band wagon on the back of anti foreigner and anti business mantras. The reality is their facts are wrong and we look forward to providing all politicians with accurate information if that is what they want”, said Martin Taylor, CEO of the NZ Aged Care Association.

ENDS

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