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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  • D.Dave

    I suppose they will resurrect the “Ducking Stool” and “Stocks” as appropriate punishment for uttering the words……’Foreign Trust. Followed by plenty of tut-tuting and sighs of indignation.

    • jonno1

      Ducking stools are a very useful device…

  • Tiger

    The problem with pronouncements like this is they are done to make the pronouncer knowledgeable and appear confident about the subject matter. What A Little does not possess is a mirror to see what everyone else sees, that he is neither knowledgeable nor appears confident. What a high pedestal from which to fall.

  • Pluto

    With prior knowledge of the Dirty Politics hit, Labour launched it’s “Vote Positive” campaign.
    This smells the same, armed with prior knowledge of the hackers release A Little is coming out saying foreign trusts are the dirtiest of all evils and must be banned.

  • George

    Andrew! Name one situation where there is evidence of international embarrassment. You can’t. You are so nieve that you just cut and paste what has already been cut and pasted by the MSM from social media gossip. This is not policy. It is just an utterance of desperation by a desperate man who is out of his depth. You have no idea and don’t the public know it!

  • Drhill

    (1) Foreign Trusts get setup for all sorts of reasons – to ban them just because of the Panama papers is a bit loony
    (2) I’m sure the Labour party never uses Trusts to run any campaigns
    (3) I’m sure NZ Unions never use Trusts to run any campaigns

    • Rick H

      I’m sure Other Labour Leaders over recent time have never used a trust, eh, Fonterra Setter-upper.

  • RightofSingapore

    That photo could have been used for a caption contest. Just sayin.

    • Bryan

      Captive audience

      • Hard1

        Jailhouse snitches?.

    • Cadwallader

      “Vote Punitive!”

  • Wasapilot

    I recorded Q&A this morning, and was brave (or stupid) enough to watch it this afternoon. The way he spat out the words that they only earned $24 million for lawyers and accountants was teue union venom. Here is a tip for you angry, lawyers and accountnats have staff, such as clerical and other support people, graduates, cleaners,………. Whom the lawyers and accountants pay with money they have earned. The people they pay use the money to pay mortgages, raise families, buy groceries,…….

    You just don’t get it do you angry.

    • Justme

      They rent offices, drive to work, use stationery, go out for coffees, buy lunches. Every single event creates more opportunities for others.
      The biggest thing though, is that the original $24 million came from overseas. It is extra money flowing INTO the country.

    • Aucky

      So the foreign trusts earn ONLY $24 million. That’s a strange argument Andy when according to you $26 million was a very significant sum when it came to a flag referendum. You have to be consistent Andy, we tend to remember these little points.

  • localnews

    But to ban foreign trusts set up in Panama, wouldn’t Andrew have to pass that law in Panama?
    Does he mean that foreign investors will only be able to invest in New Zealand in their own names? Would he allow partnerships, what about companies? It fast becomes silly

    • I don’t believe he himself believes it. But it sounds tough and angry and resolute and decisive for anyone who wants “something done!”

      • WBC

        Yep, but the unions (I won’t put Labour here as I don’t think many members are really wanting to get too involved with Little’s flailing leadership) don’t yet see that people like angry when it comes with confidence, charisma and a cause they actually give a damn about.

        When it comes from desperation and a total un-likeability it works the other way.

  • Cadwallader

    Yet again a screamed reaction from an angry fool will become “policy” for Labour. The pompous claim that NZ is a tax haven is absurd. He just needs to read NZ’s tax legislation to see how wrong his statement is. Labour will never learn.
    Policy implies forethought, planning, deliberation, care, and a reference back to principles. But what we have here is envy and grudges paraded out for Labour’s constituents who appear to be primarily drawn from the ranks of the envious and the pathetic.

  • Wheninrome

    Andy saw where Helen failed, she wanted to ban lightbulbs and showerheads. Andy is going after much bigger fish, Andy’s bans will be bigger therefore better, if only the NZ public were on the same wavelength as Andy, he would succeed where Helen failed, his legacy would be better, there would be no stopping him, UN here I come, step aside the H1 and H2.

  • Justme

    When politics is finished with Andy, he should work as a moderator on a blog. He is pretty damned handy with the banhammer.

  • Never mind the hundreds of millions in foreign cash under pinning our banks……… Oh yeah – Angry hates them too

  • one for the road

    Shame on you Angry, Aunty Helen will not be happy, she has set one up (cause she works in UN and needs to make her international tax more effective) and now you are saying she wont be able to have one here as they will be banned!

  • Greg M

    Relax everybody, what is Labour policy today won’t be policy tomorrow, it’s just the angry one barking at passing cars again. As you were.

    • one for the road

      Trouble is all the neighbours are loading their guns thinking they need to go out as vigilants now that the dog is barking up a storm….

  • Rick H

    These types, really, really want to ban anything that isn’t owned or controlled by the state.
    They don’t say this in as few words as this, these days, but in reality, they really really want every person in NZ to live in a state-provided home, and all will receive the exact same (see, very very fair) “living wage”, provided by the state, and earned by the state using the people all working for the State Owned Businesses, very fair, there will be zero “poor, and zero rich”. Every man woman and child will be safe, secure and not be starving.

    Isn’t that the dream of the left?
    And it has been tried numerous times over the last century or so.

    I’m certain that if “Chairman Hell” gains the leadership of the UN, this will also be her goal.
    How has it all worked out in places that have already tried this?

    • Wheninrome

      Well in Russia the oligarchs have done well, perhaps Andy sees himself as one complete with football club and trophy wife.

  • john Doe

    Yep ban everything. Form the Socialist State of Aotearoa. Have trade agreements with North Korea and every other dodgy dictatorships around the world. The guy is delusional and does not have a financial clue in his head.

  • Nebman

    Quietly relaxed about this new policy from Angry. As we know from very recent experience, they’ll immediately vote against it.

  • WBC

    Ahh, it’s kind of funny but kind of sad that the Leader of one of the larger minority parties has just declared himself to be in the same league as “lets print money” Norman. Maybe they really should campaign together, only together can they take their cumulative vote below 25%

  • Sally

    Little really wants to drag NZ back to the last century. He is a simple man and yearns for the time when the unions were in control, Trusts hadn’t been invented, people kept the little money they had under the mattress, there was no internet so everybody remained ignorant and no-one travelled so no thoughts of greener grass on the other side. Little must go to bed at night and yearn for the good old days, life was so much simpler then.

    • RockinBob625

      Latest news, Labour to ban mattresses. Declare Bedpost to be the axis of all evil.

  • Sagacious Blonde

    Good luck in not having his own MPs stampede across the floor when they vote on this one.

  • Wayne Peter McIndoe

    So this is now Labour policy at the moment – we shall see if it remains so, Little has done flipflops all over the show on a number of issues – we will see what happens on this one

  • sandalwood789

    Little would ban *chocolate fish* if he saw John Key eating one.

  • kayaker

    After reading this, the reaction I would like to express would see me being banned by the MODs.

    Honestly, this man who aspires to be PM of one of the finest countries in the world – a peaceful economically, socially, and environmentally (yes!) healthy country, a country where there are no barriers to anyone reaching the top and beyond of Maslow’s Hierarchy, the list is endless – just doesn’t deserve to breath the same oxygen as all of the above. Angry, who is naive in the extreme, and his maudlin band of sad pathetic men and women could destroy New Zealand if they got the chance. What an achievement!

  • Keyser Soze

    Farrar is going to run out of space on his ever growing list of what Labour would ban if they got into Gummit.

  • Dumrse

    Andrew Little obviously had a sad and sorry childhood. It is apparent he spat his dummy and threw his toys from the cot at a very early age and has had nothing to play with ever since. Well, that is until his union monkeys told him he could play with the entire NZ economy, one day. We should thank our lucky stars that day will never come for Angry.

  • island time

    His approach to setting policy would make us the laughing stock within the OECD. No reasonable process – just knee jerk reactions based on his personal lack of intelligence or thought….very dangerous.

  • Old Dig

    I saw Angry on TV last week saying he was going to stop chasing every passing car. Well that didn’t last long.

  • Allan

    The more publicity Little gets the worse he looks. The guy obviously has no idea how the world works, how business operates or what life is all about. He seems to think that people willingly have their money stolen by governments in order to provide for the useless so if there is a legal means to prevent this that course will obviously be taken by them. Hence the use of trusts etc. Talk about a dropkick idiot, he is not fit to be in Parliament let alone the leader of an opposition which is totally devoid of any talent whatsoever.

  • benniedawg

    Poor Andy. Banning something that is seen as having little worth is the only way forward. Andy, while you are on the job give some serious consideration to banning the labour party. An organisation that offers so little, achieves next to nothing and is only ever heard from because of its deep involvement with the media, one would think that a ban would be the best way forward. At least a ban would spare the general public from being exposed to the ill informed drivel that flows from him and his ilk.

  • Time For Accountability

    So where does that leave trusts set up by expats who will one day come home to their foreign trusts.

  • zotaccore

    So the Angry Andy train wreck pulls into yet another station. I’m wondering what his colleagues really are thinking about him now, especially the more affluent ones. Will he last it to the next election? Hope so.

  • earthyundertones

    If we start banning stuff based on what Andrew Little doesn’t understand then the world will be a sorry place. I think everything from how aircraft fly to putting the filling in Tim-Tams is incomprehensible to Andy.

  • axeman

    It sounds like a “Crisis” has hit again according to the Labour Party and leader Angry Andrew Little.
    Well given past performance on Crisis’s, then in all reality we are onto a winner and pump it for all its worth

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