Who didn’t see this coming? Andrew Little commits Labour to a “ban all foreign trusts” policy

Kate Wilkinson, Andrew Little, David Clendon, Ian McKelvie, Denis O'Rourke and Paul Foster-Bell, all getting what they deserve

Sounds so easy, doesn’t it?

The Labour Party would ban foreign trusts to protect New Zealand’s reputation as the Panama Papers saga continues.

The Government have approved an independent review of the country’s tax laws, after last month’s leak of a Panamanian law firm documents suggested New Zealand was a ‘tax haven’ for wealthy investors to hide their money.

But Opposition leader Andrew Little would go a step further and ban foreign trusts altogether.

“I see no value in them,” he said…

Well.  Andrew wouldn’t.  Having earned over a million dollars over the last 7 or 8 years, he tabled his tax return in parliament to show he still owns a modest house with a mortgage, and no other investments.  None.  At all.

Banning trusts eh?   Not even calling for an “independent industry review”?   He can’t actually be serious.  Yet there is part of me that believes he actually doesn’t understand the repercussions of such a decision, and he’d actually genuinely try to just shut the door.

Is he saying that the Labour government that introduced this legislation was wrong?   Is he saying that the Helen Clark government sat on it for 9 years and never banned it or substantially fixed its flaws?

 

– Stuff


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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