Support for tightening land sale rules

Prime Minister John Key says he is concerned that New Zealanders could become "tenants in their own land" and that is why the Government is looking at overseas investment rules around land sales to foreigners.

A TV3 poll released tonight showed 75.5 per cent of voters want the rules tightened, with only 8 per cent saying they should be relaxed.

Finance Minister Bill English is reviewing the Overseas Investment Act and Mr Key said at his post-cabinet press conference today he didn't want to prejudge the result of that.

He said it was necessary for the processes to be rapid and efficient, because foreign investment was welcome when it created job opportunities.

"We're also having a look at the broader issue of land because of the concerns that we hear in the community," he said.

"I am concerned about the risk that New Zealanders become tenants in their own land."

Mr Key said the fact that the big Crafar farms were on the market, with a Chinese bidder, had brought the issue of land sales into sharp focus.

He didn't think public concern related to the fact that one of the bidders was Chinese.

To read the full NZ Herald article, click here

Posted: 9 Aug 2010

News articles

Browse articles
by date

September 2013

July 2013

June 2013

May 2013

December 2012

November 2012

September 2012

June 2012

April 2012

March 2012

February 2012

January 2012

December 2011

November 2011

October 2011

September 2011

August 2011

July 2011

June 2011

May 2011

April 2011

March 2011

February 2011

January 2011

December 2010

November 2010

October 2010

September 2010

August 2010

July 2010

June 2010

May 2010

April 2010

March 2010

February 2010

January 2010

December 2009

November 2009

October 2009

September 2009

August 2009

July 2009

June 2009

May 2009

April 2009

March 2009

February 2009

January 2009

December 2008

November 2008

October 2008

September 2008

May 2008

April 2008

March 2008

Please disregard these fields.

banner ad