No chinky sounding names there then?

Before the election Labour and Winston Peters made much of sales of land to Johnny Foreigner.

Here is what Winston has had to say on the sale of farm land to foreigners:

New Zealand First leader Winston Peters has slammed a Chinese company’s purchase of Lochinver Station as a “corporate raid” with no benefits to New Zealand.

Mr Peters says while China “desperately needs” Fonterra, Chinese companies don’t bring anything to New Zealand.

“What we’re doing over there of course, and what they want to do over here is entirely different,” he says. “We’re in a way working with them to get into the market, but here they want to control the market; and if allowed to… they will have a serious chance to influence the market, and downstream they will influence the price to our disadvantage.”

He says Shanghai Pengxin’s so-called investment in New Zealand hasn’t created any new jobs or opportunities for Kiwis.

“That’s the kind of thing that’s portrayed by these… lousy apologists for unbridled capitalism, saying it’s investment.It’s a corporate raid, and every other smart economy sees it for what it is, and we don’t.”  

He also promised to buy back farms sold.

Phil Twyford has previously said:

Mr Twyford says government has its “heads in the sand” over the issue and needs to implement a public foreign buyers register.

Up until this point, no government agency has tracked sales to foreign buyers, beyond sales (typically in the $5 million+ bracket) that require Overseas Investment Office approval. Budget 2015 introduced two measures to track offshore buyers: the requirements to register with IRD and establish an NZ bank account. Both measures come into force in October.

Mr Twyford says Labour is committed to banning all foreign non-resident buyers from purchasing property and to introducing its KiwiBuild policy.

And what do we find out yesterday?

The supposed clampdown of land sales to Johnny Foreigner is a charade. The Government just authorised a $17 million farm sale to the Canadian Government.

The sale of a Canterbury dairy farm for more than $17 million to a company owned by the Canadian government has been approved by the Overseas Investment Office (OIO).

OIO approval was given in November for the purchase in the latest round of decisions for overseas investment of sensitive New Zealand land.

The transaction includes a medium sized dairy farm of 335 hectares and a neighbouring dairy support block of 72ha, also on freehold land at Hororata. They will be combined to create a larger dairy farm.

Applying for OIO consent was Ramsay Dairy Farm Ltd, wholly owned by the Canadian government and linked to a public pension investment scheme.

The land was sold by Harry and Gail Schat, owners of Haglea Farm Ltd, and Jennifer, Neal and Mervyn Todd under Ddot Holdings Ltd. Harry Schat was previously North Canterbury president of Federated Farmers for three years.

Ramsay Dairy Farm Ltd has plans to convert some of the dairy support land to create a larger milking platform, and to increase the herd size by about 400 cows.

In its decision the OIO said the benefits to New Zealand included the creation of additional jobs on the amalgamated dairy farm, an increase in milk volumes being processed in New Zealand, increased export receipts and the introduction of capital investment to convert dairy support land to dairying.

Taken into consideration was the applicant’s previous investments that have been “of benefit to New Zealand”, by creating jobs and bringing in additional investment for land development.

Obviously, there were no investors with chinky sounding names involved in this deal otherwise we’d surely have heard from Twyford and Winston on this…wouldn’t we?

I wonder what the Greens will say about the authorisation of yet more dairy conversions?

It seems Chows are forbidden but Canucks are ok.

Their promises of a clampdown seem to be nothing more than #fullofshit.

 

-Fairfax


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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.  And 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 that takes no prisoners.

He is fearless in his pursuit of a story.

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

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