Peters talks foreign ownership in Katikati

Winston Peters

New Zealand First leader Winston Peters is visiting Katikati today and says the party is making foreign ownership a major theme in this election campaign "for very good reasons".

"In case anyone forgets, for years we have been exporting or as they say "offshoring" our manufacturing base."

New Zealand First was committed to halting and reversing the sell-off of the country, he said.

He said many of New Zealand's best and most profitable businesses were now under foreign ownership.

"Fisher and Paykel Appliances went to Chinese whiteware maker Haier in 2012. This year the Auckland biscuit seller Griffin's Foods has gone to Universal Robina of the Philippines."

"Recently, Mighty River Power announced a bumper profit increase this year of 82 per cent - that once would have benefited the public."

The MP also discussed housing and land sales.

"Tens of thousands of New Zealand houses are now owned by people who are neither citizens nor residents of New Zealand. No wonder that the level of home ownership in New Zealand is at its lowest level since 1951."

"Over one million hectares of New Zealand land passing through the Overseas Investment Office (OIO) into full or partial foreign control since the National Government came into office.

"That's six times the size of Stewart Island. A staggering loss of sovereignty."

Mr Peters said The Overseas Investment Office process was "a sick joke".

"The OIO has been approving a sale, on average over the past three years, every three days.
And the OIO completely fails to take into account the favourable tax position that applies to foreign owners.

"Let's make it crystal clear, New Zealand First is opposed to the foreign takeover of New Zealand from any source."

New Zealand First was committed to action to put the brakes on the sell off, he said.

"We have a comprehensive programme to own our own country again. That programme has a number of elements.

"We'll pass a law for a register of all land and house ownership. We're going to know, finally, who owns what and where. And we'll catch land and houses using the trust ownership veil as well.

"We will impose rigorous control on land, house and state business sales to foreign interests.

"We will use the Cullen fund and our KiwiFund, and tax law, to buy back what were once our assets. KiwiFund, our new KiwiSaver option, will be run by a government agency with low fees and a capital return guarantee will invest primarily In New Zealand assets like land as well as infrastructure.

"Like all our policy, our approach to foreign ownership is realistic, practical and affordable," he said.