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Joyce attacks Labour xenophobia

The Herald reports:

Economic Development Minister  has accused  of “” in their opposition of the potential sale of Lochinver Station to the Chinese company that bought the Crafar Farms.

Mr Joyce and Grant Robertson, economic development spokesman for Labour, appeared on TV3′s The Nation this morning and discussed the sale.

Mr Robertson said under Labour the sale would not go ahead.

“Our criteria would definitely mean that a sale like this would be highly unlikely.”

Mr Joyce said the opposition were “electioneering” in relation to the issue.

“When did [Labour] go out and oppose the purchase of James Cameron’s land?”

“A little xenophobia from the Labour Party to start the day,” he said.

Cameron is becoming a resident, but you rarely hear Labour attack Harvard University for land purchases, Shania Twain, Australians or Canadians. But if it is Chinese, then they have lots to say.

Mr Joyce said the Lochinver Station was a “ridiculously small amount of land” in the North Island to sell off.

The Lochinver sheep and beef farm site is valued at $70 million and covers 13,800ha.

That’s 138 square kms. Around 0.05% of NZ. At this rate China will own all our land in the year 3,956. Panic, panic, everyone.

Political commentator David Farrar posts at Kiwiblog.
What do you think? Should foreign buyers' bids for approval to buy NZ land be made public? Click here to vote in our subscriber-only business pulse poll.

Comments and questions

So the enlightened Mr Joyce attacks so-called "Xenophobia" exhibited in other parties? Joyce/Key's thinking and policy is gravely flawed in this area and they are foolishly leading New Zealand toward a very bad future as will be proven in years to come. No country or government in their right mind would allow state-controlled foreign corporates to buy up vast tracts of our land or assets. It's telling that China itself does not allow foreign ownership of its own land - they are far more clever and wise than our idiot politicians. It is not about xenophobia Mr Joyce - it's about solid business sense, about logic and about preservation of sovereignty. The notion that everything is for sale at the right price is just stupidity.

You can't buy land in China because they don't believe in or respect private property rights. In fact I would not want to own land there. We should be very careful about interfering with private property rights in NZ including the right to sell our properties. Ask the Chinese peasants about what they think about living in a society that has no respect for property rights and where they can be forced off their land by corrupt local officials with no compensation.

Doh! It is all about xenophobia!
For your information any NZ land sold stays in NZ

For myself I am strongly in favour of the "owner operator" business. It is that business model (owner operator) that has advanced NZ's prosperity for the last 200 years and will do so for the foreseeable future. I believe "corporations' are sux and will be. if they are not already, the authors of their own demise. So it worries me not who ever buys the farm. What's the bet Land Corp are the initiators of this deal. Why? Because the Land Corp bureaucracy want to have a business (managing absentee owners farms) in case a NZ Gov. should ever suddenly realise the obvious, and that is; Since settlement of young farmers has stopped, why on earth is the taxpayer exposed to the risks of farming? And then sell down the taxpayer owned farms.

Doh to you John! The profits go overseas and there is no guarantee of value added processing here when offshore owners (regardless of where, but particularly China) are investing so significantly in their own processing, seeking only to source the raw material from us.

"Profits go off shore" maybe! So do losses!!
You guys are asking to limit the market a farmer can sell his farm too? Are you planning compensation for removing what is after all a fundamental property right?.
Ever tried farming?

Eaxctly - look at the quarter billion dollar loss suffered by Singapore Airlines and their government when Air NZ had to be bailed out. Not a squeak from the xenophobic brigade, was there?

Ah - the free market. The right to sell our resources at bottom prices without creating any sustainable value for our country. And now it is all justified by exporting losses. What a dreadfully useless business country we must be....

And Anon - we. the taxpayer, bailed out Air NZ

Yes, the taxpayers bailed out Air NZ but Singapore Airlines wrote off $250 million of its investment in Air NZ. Not a squeak from the xenophobic ones, was there?

Better for the NZ govt to BUY the farm and LEASE it to the Chinese. Better result all round. Everyone is happy then.

We are an Island nation, with limited land supply and seemingly a very high immigration expectation.

Presently my kids are struggling with setting up in their own home due mostly to foreign buyers outbidding them. My kids are 5th generation Kiwis.

Should the priority be squarely to settle our own? what is negative about stable housing prices compared against the runaway inflation experienced under Helen Clarkes and John Keys regime.

I say allow foreigners to lease and not own real property.

I say treat any person with more than one residential property being in the business of buying and selling.

I say remove the tax incentive that allows property investors under the guise of being landlord the ability to turn normally taxable income into tax free capital gain.