POLL: Readers' verdict on government's approach to foreign investors
The government should retain the status quo when it comes to the sale of land to foreigners, according to NBR ONLINE readers.
Paid subscribers were asked in a poll conducted last week: What approach should the government take to land sales to foreigners?
Forty percent say things should stay as they are now, 31% want fewer restrictions and 29% believe there should be tighter restrictions.
Green Party leader Dr Russel Norman recently introduced a bill to parliament wanting to restrict the sale of land to foreigners.
The party says the bill will stop the sale of "sensitive land", like the Crafar Farms to Shanghai Pengxin.
Dr Norman says "New Zealand must protect its global advantage by keening New Zealand land for New Zealand citizens permanent residents and companies."
ACT Party leader John Banks has criticised Dr Norman's approach, saying restricting foreign ownership of land would be detrimental to the economy.
"Free markets give us the best combinations of investors, ideas and resources to create a wealthy country," he says.
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Comments and questions2
Singapore has much more foregin investment than we have. But because of their savings and their government's ability to pick winners, the have better soveignty than we. Also they don't have an unemployment industry.
While we continue to live beyond our means and while the reserve bank retains it's restrictive interest rate policy we will need foreign funding.
liberte