The Government is worried that large parts of New Zealand's productive lands could end up in foreign ownership.Prime Minister John Key yesterday indicated that it may do something about that.Landcorp yesterday filed an 11th hour bid for the Crafar farms.
The Government is worried that large parts of New Zealand's productive lands could end up in foreign ownership.
Prime Minister John Key yesterday indicated that it may do something about that.
Landcorp yesterday filed an 11th hour bid for the Crafar farms. Natural Dairy, fronted by New Zealand-registered UBNZ, has an agreement with the receivers to buy the farms, but it is conditional on Overseas Investment Office (OIO) consent. Bids for the 13 dairy farms and three drystock properties are due by 4pm tomorrow.
Green Party co-leader Russel Norman welcomed the Landcorp bid but said a long-term solution was needed. He said Mr Key needed to spell out what he would do and said land should not be sold but foreign companies could be allowed to lease land.
Mr Key, who is in China on an official visit, said he could not comment directly on the Crafar farms issue because it was before the OIO but understood the wider concerns.
"As a general and broader principle I think New Zealanders should be concerned if we sell huge tracts of our productive land.
"Now, that's a challenging issue given the state of the current law and quite clearly it's evidentially possible and has been achieved that individual farms can be sold. Looking four, five, 10 years into the future I'd hate to see New Zealanders as tenants in their own country and that is a risk I think if we sell out our entire productive base, so that's something the Government will have to consider."
Dr Norman said there were dangers for New Zealand's brand, regulation and economy should such sales go ahead.
Landcorp chief executive Chris Kelly told NZPA the company has had valuations done for the 13 dairy farms and three drystock properties being sold by receivers and will offer a realistic bid.
The OIO will make a recommendation on the sale to Associate Finance Minister Steven Joyce and Land Information Minister Maurice Williamson. The ministers can veto a sale.
