WHO OWNS NEW ZEALAND?

CAFCA's Latest Key Facts Update Reveals Business As Usual Under Labour

- Murray Horton

CAFCA's Key Facts have been updated, as they are every year, by Bill Rosenberg. They are up to date as of February 2019. They are available as a hard copy leaflet from CAFCA, Box 2258, Christchurch 8140 (include a koha if you want more than 20). The text version with all references is online here. Plus, the Key Facts are available as graphs, in both Powerpoint and as a PDF, at that same address.

Two key facts to note: Firstly, in 2018 the Overseas Investment Office (OIO) approved foreign investment totalling $12.5 billion. The average for the decade 2009-2018 was $8.2 billion. So, a substantial increase in the first full year of the Labour-led Government. And, secondly, in 2018 the OIO approved the sale of 137,834 hectares of freehold rural land to foreigners. This is a substantial increase over 2017 when the sale of 25,696 hectares was approved which was the lowest area of freehold land since 2003. It is close to the average for the decade 2009-2018 of 135,157 hectares.

So, after easing off in 2017, land sales to foreigners were back to their previous level in the first full year of the Labour-led Government. Conclusion: business as usual, despite this Government saying it would take steps to deal with what it claims to recognise as the problem of foreign control. Actions speak louder than words. The Government is conducting its Stage 2 review of the Overseas Investment Act in 2019. Let's see some action.


Non-Members:

It takes a lot of work to compile and write the material presented on these pages - if you value the information, please send a donation to the address below to help us continue the work.

Foreign Control Watchdog, P O Box 2258, Christchurch, New Zealand/Aotearoa.

Email cafca@chch.planet.org.nz

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