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Home / Business

Sasha Borissenko: All but four MPs have property interests

Sasha Borissenko
By Sasha Borissenko
NZ Herald·
28 May, 2023 03:00 AM5 mins to read

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Can sufficiently housed MPs meaningfully represent the interests of the majority of people bearing the brunt of the housing crisis? Photo / Mark Mitchell

Can sufficiently housed MPs meaningfully represent the interests of the majority of people bearing the brunt of the housing crisis? Photo / Mark Mitchell

OPINION

There’s nothing like a government Budget to eclipse the release of the annual Pecuniary and Other Specified Interests register. Thankfully, unearthing the assets of New Zealand’s representatives tickles me. Let’s take a look.

Buy local, steal from corporations

I’m in two minds about receiving gifts. Surely there should be perks to leading the country. Equally, accountability and optics are such that it makes sense there’s a higher ethical standard for New Zealand’s representatives. Tricky.

I feel a tad sad for Jacinda Ardern for having to return loaned items from Juliette Hogan, Kate Sylvester, Zoe and Morgan, Carlson, Emilia Wickstead, Meadowlark and Caitlin Crisp. Ardern did manage to wrangle bags from Yu Mei and Deadly Ponies. Insufferably, they were donated after use.

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In total, Ardern received a wooden bowl, a children’s book and merino cardigan from Harvard University, a large wooden bowl from the president of the US, rugby and cricket tickets and a bronze medallion. Unlike the bronze medallion, I hope for the sake of our former prime minister that the bowls in question are made of gold. No matter if not, as she has interests in the Rocky Nook Bowls Club in Mt Albert, which surely brings joy to the family.

The gifts last year were much of a muchness for the remaining MPs, with the exception of Labour’s Camilla Belich, who received a “goodie bag” thanks to the South Waikato Expo in August last year. Who doesn’t love a goodie bag? And what on earth was in it?

Honorary mentions go to Act’s Brooke van Velden and deputy prime minister Carmel Sepuloni, who both received tickets to last year’s Billy Joel concert at Eden Park. I hope they sat together and basked in the glory of free live music.

Spilling the tea on company interests

For the legally inclined, you’ll be pleased to learn National’s Joseph Mooney has controlling interests in Mooney Lawyers Ltd, and Commerce and Consumer Affairs Minister Duncan Webb has interests in Duncan Webb Lawyer Ltd (not trading). The former Lane Neave partner received book royalties from LexisNexis.

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Labour’s Naisi Chen has controlling interests in Gian Consultants, Gal.S Consultants and event planning business Dream and See. Sadly, Dream and See is not trading, which is a shame given the sublime company name. Speaking of incredible names, Labour’s Anna Lorck has controlling interests in Attn! Communications Ltd, which provides marketing, public relations and publishing services.

More on the Labour Party. Tāmati Coffey has controlling interests in T2 Hospitality Ltd – not to be confused with the overpriced but equally delicious tea leaf company. Anae Neru Leavasa leads the charge at VO2 Health Care, while Jo Luxton controls hair salon LFamily Ltd and Headstart Early Learning Centre, which is no longer trading.

Moving on to the National Party. Barbara Kuriger has fingers in all the pies, including gym franchise Taranaki Growth Spurt (not trading), trustee company Kuriger Trustees, Shortland Farm Management and Monster Ernie Farm Management.

Tim van de Molen has controlling interests in horticulture and agriculture company Caritim and investment and management companies Kaimai Capital, Kaimai Capital Investments, Kaimai Capital Holdings and Kaimai Capital GP.

Shane Reti has controlling interests in medical consulting and property investment company Reti Holdings, building construction company Reti Contracting and property investment company Winged Victory Ltd.

To end on a company high, Act’s Toni Severin is all about water-blasting, having controlling interests in Jet-X NXZ, Jet-X Christchurch (not operating) and Jet-Z Wellington.

Going once, going twice, sold

Of the 120 members of Parliament, just four do not have property interests. With that said, I’ve had to limit the number of properties owned by MPs to six. Can sufficiently housed MPs meaningfully represent the interests of the majority of people bearing the brunt of the housing crisis? Probably not.

In any event, National’s Chris Luxon owns two properties and four investment properties in Auckland and a property in Wellington. Incredibly, no mortgages were listed on the register.

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David Bennett owns four dairy farms, two kiwifruit blocks and a drystock property in Te Awamutu, and a property in Hamilton. Again, no mortgages.

Mark Mitchell owns a family home, three residential rental properties and a commercial rental property in Auckland. He also owns an apartment in Wellington. He has one mortgage with TSB Bank.

Barbara Kuriger has interests in a family home in New Plymouth, a family home in Te Awamutu, two dairy farms and a grazing unit in Ōpunake and an apartment in Wellington. There is one mortgage with ANZ.

Andrew Bayly has shares in a house in Coromandel, an apartment in Queenstown and a residential property in Auckland. Adding to the list is an apartment in Wellington, a farm in Waikato and a family home in Auckland. Debts owed to and by the National MP relate to trusts.

Representing the Labour Party is Adrian Rurawhe, who jointly owns a family home in Whangaehu. The Speaker of the House has interests in 26 Māori land blocks in the Aotea district, one Māori land block in the Tai Tokerau district, two Māori land blocks in the Tākitimu district, 11 Māori land blocks in the Waipounamu district and a general land block in Rātana Pā. Rurawhe is mortgage-free.

Compare this to Prime Minister Chris Hipkins, who jointly owns two family homes in Upper Hutt and a residential property owned by a superannuation trust in Paraparaumu. He’s also servicing four mortgages. In light of the hideous rising mortgage rates, homebrand bread-and-butter budgeting it is then.

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