Most New Zealanders reading the news that chief executive pay has risen 12 per cent in the last year will be wondering when they are going to get their fair share, Labour’s Finance spokesperson Grant Robertson says.
“More and more it seems the fortunate few at the top are reaping all the benefits, while people in the middle are feeling the squeeze. What has happened to the Kiwi idea that you get a fair day’s pay for a fair day’s work?
“Fresh revelations that cast doubt on two Overseas Investment Office (OIO) decisions show the Government’s oversight of foreign investment is practically non-existent, Labour’s Land Information spokesperson David Cunliffe says.
“New Zealanders should feel confident that our prime assets are being safeguarded by the OIO and that our international reputation is intact. International investors have to meet the Act’s good character requirements.
Despite the Reserve Bank highlighting the need for higher levels of capital expenditure to stimulate the economy, the Government is going to do the exact opposite, Labour’s Finance spokesperson Grant Robertson says.
“Bill English has signalled a Budget money-go-round that fails to meet the need for investment to grow the economy. He plans to cut funding for capital projects now, just as the call for investment grows.
The weak and absurd scope of the Government’s inquiry into foreign trusts has been lambasted by Transparency International, Opposition Leader Andrew Little says.
“In a scathing statement released today, the anti-corruption watchdog warns that the John Sherwan-led inquiry into foreign trust disclosure rules fails to address fundamental issues raised by the Panama Papers.
The Commerce Commission’s decision to allow Z Energy to buy Caltex can only undermine the competition in the fuel industry that is needed to ensure New Zealanders pay the lowest price for petrol, Labour’s Consumer Affairs spokesperson David Shearer says.
“This is an essential industry and needs the greatest amount of competition possible, not have it reduced. Sadly, petrol is going the same way as a number of other essential industries, meaning New Zealanders are typically paying higher prices for goods here than they would in Australia.
Revelations that John Key's personal lawyer and trust advisor led a lobbying campaign to shut down a review of New Zealand's foreign trust regime makes the case for a full scale independent inquiry a matter of urgency, Labour's Finance spokesperson Grant Robertson says.
“Nothing less than an independent inquiry led by a person of the stature of a Judge with the ability to call witnesses and subpoena evidence will restore confidence from taxpayers in the fairness of our system.
It’s a damning indictment on the Government that as workers gather to remember their lost workmates on Worker’s Memorial Day, New Zealand’s workplace death toll is still far too high, Labour’s Workplace Relations and Safety spokesperson Iain Lees-Galloway says.
“At least 46 people have died at work in the last year including 16 farm workers.
The Minister for Land Information must investigate and disclose how many applications to the Overseas Investment Office (OIO) have links to Mossack Fonseca, says Labour’s Land Information spokesperson David Cunliffe.
“Labour can now reveal the OIO approved an application from Panamanian company Ceol & Muir – a client of Mossack Fonseca – to purchase the 1300ha landmark Onetai Station at Awakino in North Taranaki in February 2014.