The Overseas Investment Office has approved more than 290 consents from foreign investors to buy sensitive land in New Zealand, but has not turned down a single application says Labour’s Land Information spokesperson Stuart Nash
“The Minister of Land information, Louise Upston, confirmed during question time today that since 2008 the Overseas Investment Office has become ‘an overworked rubber stamping bureaucracy’ that simply did what it was told by the government without any regard to what is good for New Zealand.
New figures show that the ‘big four’ Australian banks in New Zealand are creaming Kiwis, making higher profit margins here than they do across the ditch, Labour’s Consumer Affairs spokesperson David Shearer says.
“They are some of the most profitable banks in the Western world, generating a return here of 1.6 per cent pre-tax profit as a percentage of total assets last year, compared with Australia’s 1.28 per cent. (The US was 1.1 per cent and the UK 0.39 per cent).
Farmers must be given every assurance that all potential risks have been considered before Silver Fern Farms opens its door to foreign equity, Labour’s Primary Industries spokesperson Damien O’Connor says.
“The ongoing saga involving the meat sector and amalgamation has to be moved forward. Farmers who own and supply the two major cooperative companies need confidence that these enterprises are viable, profitable and acting in the farmers’ best interests.
Thank you for the opportunity to be here today, it’s always a pleasure to be in sunny Nelson, more so given the Antarctic conditions currently gripping other parts of New Zealand.
On my last visit to Nelson I had the pleasure of spending some time with Chris and Andrew Rodley at SNAPIT HD. I am sure many of you are familiar with their incredible 360 degree camera technology that is being used in everything from traffic management to construction to fisheries.
The ANZ Bank has a moral obligation to fully compensate farmers after the High Court today declared it breached the Fair Trading Act by misleadingly representing interest rate swap loans, Labour’s Primary Industries spokesperson Damien O’Connor says.
The Commerce Commission confirmed earlier this month the likelihood of successful prosecution against the ANZ for its mis-selling of swap loans to farmers.
The National Government continues to throw good money after bad at the meat industry instead of addressing the fundamental problem of its dysfunctional structure, Labour’s Primary Industries spokesperson Damien O’Connor says.
“The latest Primary Growth Partnership grant to the venison sector adds to the $170 million-plus of taxpayer funds already allocated to the meat sector.
The Ministry for Primary Industries’ failure to monitor toxic and illegal chemicals in red meat is a dereliction of duty, Labour’s Primary Industries and Food Safety spokesperson Damien O’Connor says.
“MPI compliance officer Gary Orr today admitted National’s much-vaunted super ministry doesn’t have the resources to routinely monitor and test fresh red meat sold in New Zealand. This is an outrageous omission.