Govt Congratulated For Stopping Sealord Sale Overseas

Now New Zealandise The Rest Of The Economy As Being In The National Interest

The Campaign Against Foreign Control of Aotearoa (CAFCA), which rarely has a kind word for the Government, nonetheless believes in giving credit where credit is due.

So we congratulate the Government for prohibiting the sale of Brierley’s stake in Sealord to foreign fishing companies. We are pleased that it is committed to the “New Zealandisation” of our fishing industry; that it has stopped any offshore sale as “not being in the national interest”; and that it has revoked the power delegated to the Overseas Investment Commission by the National government (in its dying days in office) for the OIC to administer the Fisheries Act as it relates to foreign companies.

Unfortunately, the Government has not followed these very worthy and sensible principles in dealing with the sale of part of Brierley’s stake in Air New Zealand (its B Class shares), allowing it to be sold to Singapore Airlines. Our flag carrier airline is equally worthy of “New Zealandisation” ; its sale overseas equally worthy of being deemed not in the national interest.

We remind Deputy Prime Minister, Jim Anderton, what he said about Air New Zealand, before the 1999 general election: he stated that the airline should be renamed “Air Asia”, saying that it has lost the moral right to call itself the national flag carrier (Press, 27/10/99). Does he still hold that view now? If so, then what is he doing about it?

“National interest” used to be a central criterion for approving or rejecting applications from foreign investors. National’s amendments to the Overseas Investment Act, in the 1990s, removed it in any meaningful form.

We urge this Government to restore “national interest” as the central principle of any laws dealing with foreign investment. Further we urge the Government to adopt the laudable principle of New Zealandisation to the rest of the economy. That would definitely be in the national interest.

Murray Horton Secretary/Organiser

CAFCA Campaign Against Foreign Control of Aotearoa PO Box 2258, Christchurch email: cafca@chch.planet.org.nz

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