OIO investigates island sale
- The Northern Advocate
Eighteen months after a Northland island changed hands, the Overseas Investment Office (OIO) is still trying to confirm the sale complies with the Overseas Investment Act.
The three titles for 3.7ha Motukawaiti Island in the Cavalli Islands group was transferred from the Motukawaiti Island Trustee Company to St Morris NZ in August 2010.
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Was that a cry for help from the Overseas Investment Office?
- Otago Daily Times | Rob Hamlin
However, it is clear from a reading of this Act that the OIO cannot conduct a balanced evaluation of the wider economic and social benefits of any proposed overseas investment in land, and is thus compelled to approve any application that is made to it, unless specific issues related to a particular purchaser can be identified.
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No run on Kiwi farms - Key
- Stuff | Fairfax NZ News
The 3 New Reid Research poll also showed 76 per cent agreed rules should be changes to make to tougher for land to be sold to foreigners.
Among National Party supporters, 68.7 per cent agreed the rules should be tougher. Of Labour voters, 81.2 per cent agreed; of Green voters 82 per cent agreed and 95.7 per cent of New Zealand First supporters agreed.
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Letter. Our opposition isn't race-based
- Dominion Post | Letter to the Editor from Chairman Save the Farms
I was disappointed to read Opposition to sale has whiff of racism (Editorial, Feb 1). Save the Farms maintains the position that productive farmland shouldn't be sold to overseas buyers.
The issue is one of economics and the future prosperity of all New Zealand. At no time have we been driven by any racist bias.
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PM Key pessimistic that revised OIO decision on Crafar farms sale to Shanghai Pengxin will come this week; 'They need to be absolutely sure'
- Interest.co.nz | Rural News
Prime Minister John Key says it's important the Overseas Investment Office is "absolutely sure" it has applied a High Court ruling on overseas investment rules correctly, as the OIO revises its decision to allow Chinese company Shanghai Pengxin to purchase the Crafar farms.
Would Cameron's purchase have gone through?
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Political round-up: February 16
- NZ Herald
The National Government is seriously out of sync with public opinion on foreign investment, and suddenly this issue has the potential to do lasting damage to John Key's administration.
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High Court orders Crafar rethink
- NZ Herald
Justice Miller said Mr Williamson and Dr Coleman had "misdirected themselves in law'' by adopting the OIO's interpretation of the relevant legislation.
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High Court orders Govt to reconsider Crafar sale
- TVNZ
Justice Miller's decision appears based on his view that the economic benefits to New Zealand of Shanghai Pengxin's purchase were overstated in the Overseas Investment Office's recommendation.
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NZ's best farm land 'already sold off'
- Stuff | Fairfax NZ News
The figures potentially weaken the case for a change to overseas investment laws following the controversial sale of the Crafar farms to Chinese conglomerate Shanghai Pengxin.
But those opposed to overseas ownership of New Zealand land suggest the best land has already been cherry-picked by cash-rich foreign buyers who push prices up.
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Xenophobia? Treason? No it 's survival
- Taranaki Daily News | Rachel Stewrt
Waitangi Day is a fitting occasion to reflect on whether I am, as the Prime Minister has kindly suggested, xenophobic.
Why is it that I, and many other New Zealanders, continue to feel uncomfortable about the Crafar Farms deal?
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Third Crafar deadline passes
- Waikato Times
Another Crafar farms sale deadline has been and gone with preferred Chinese bidder Shanghai Pengxin now not due to sign along the dotted line until tomorrow. --- However, it is understood the delays are related to further OIO scrutiny of small amendments to the Chinese application, not to Pengxin's ability or desire to close the deal.
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$4.3m Dotcom mansion seized
- NZ Herald
Dotcom was refused permission to buy the $30 million property by the Overseas Investment Office as he did not meet the "good character" test. But he was able to buy the neighbouring lifestyle block in December, as property is less than five hectares of non-urban land and therefore did not need approval.
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Overseas Investment Rules—Confidence in Ministers Involved in Crafar Farms Sale
- Parliament | Questions for Oral Answer | Hansard
Hon DAVID PARKER (Labour) to the Prime Minister: Does he have confidence in the decisions of all of his Ministers who were involved in the process for the sale of the Crafar farms?
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Opposition to land sales not all black and white
- Dominion Post | Dave Armstrong
Yes, some foreign investment can be beneficial, but how much? And are there sufficient regulations on land being bought by foreigners? These are the questions many New Zealanders, thank goodness, are finally asking.
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Taranaki foreign farms buy-up nearer
- Fairfax NZ News
A mysterious foreign buyer could be just days away from snapping up more than 2000 hectares of eastern Taranaki farmland in a deal that locals fear will destroy their community.
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Who is really buying New Zealand?
- Fairfax NZ News
Figures released by the Overseas Investment Office show that of the 872,313 hectares of gross land sold to foreign interests over the past five years, only 223ha were sold to Chinese.
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Crafar sale may hinge on point of law
- Stuff | Tom Pullar-Strecker
The Crown Law Office has told the High Court at Wellington that Shanghai Pengxin owner Jiang Zhaobai could not have got high up on China's rich list "by accident" and ministers had the right to take that into account when they approved the sale of Crafar Farms to the Chinese firm
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Kiwis regain full control of dairy empire after $54m sale
- NZ Herald
The straight-talking Temuka crop and dairy farmer yesterday expressed delight at taking full control of the 58 South Island farms.
"Of course it's important that this stays in New Zealanders' hands - 24.9 per cent of this was owned by Americans and it's come back to New Zealand," he said
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Land grab: All white by us
- New Zealand Herald | Susan Edmunds
Overseas buyers are slowly chipping away at our coastlines. But Hollywood directors and pop singers have a better chance of winning public approval than well-meaning Chinese businessmen. Susan Edmunds investigates our double standards
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Cameron stepped right in to political storm - Video
- TV3 | Breakfast
Sales of New Zealand land to foreigners are in the headlines again with Hollywood director James Cameron the latest to purchase 1000 hectares of New Zealand land
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James Cameron's property buy up sparks debate
- TVNZ
First it was the Crafar Farms, now its big-budget Hollywood director James Cameron's purchase of farmland that has opponents of overseas investment agitated.
Cameron's purchase of 1000 hectares of farmland in South Wairarapa has many questioning our rules around foreign land ownership.
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James Cameron's Kiwi Property Buy
- TVNZ | Breakfast
Interview with Dr Russell Norman, Leader of the Green Party
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Cameron farms sale typical Govt 'stupidity': Peters
- New Zealand Herald
Mr Peters criticised the decision as typical of the "stupidity" of the Government and the "rubber-stamp merchants" at the OIO.
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PM: Foreign investors of value to New Zealand
- Stuff | Danya Levy & Seamus Boyer
Prime Minister John Key says he does not believe foreigners should have to live in New Zealand in order to buy land here.
US director James Cameron has spent $20 million buying more than 1000 hectares of South Wairarapa.
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James Cameron plans move to NZ
- Stuff | Fairfax NZ News
'And so it continues'(STF) Records released today from the Overseas Investment Office show that James F Cameron, of Canada, was given consent in December to purchase two separate properties, one 817 hectares and the other nearly 250 hectares.
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Let efficient Kiwi sharemilkers continue to run Crafar farms
- Waikato Times | James Houghton
LandCorp will no doubt be counting down the days until it gets its inefficient corporate hands on the 16 Crafar farms now the Pengxin Group has been cleared to buy them.
It is good the uncertainty is over, but I wish the Overseas Investment Office's decision had included a clause that the farms remain in the care of the sharemilkers who have been making the most of these businesses under difficult conditions over the past three years. Because of LandCorp's greed, they will no doubt be made redundant when it installs a management-based system instead.
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A narrow squeak for Shanghai Pengxin
- Fairfax NZ News | Tim Hunter
According to the Overseas Investment Office, certain factors were of "high relative importance" in assessing the purchase of the Crafar Farms by Shanghai Pengxin.
The assessments suggest approval of the acquisition was a narrower squeak than some expected.
Here's my summary of the "high relative importance" benefits:
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Government wrong to blame FTA for Crafar sales
- Press Release: New Zealand Labour Party
A claim by Prime Minister John Key and Land Information Minister Maurice Williamson --- that National had to allow the sale of the Crafar farms to Chinese interests because of the NZ/China free trade agreement which Labour had negotiated --- is plainly wrong, says Labour’s Finance spokesperson David Parker.
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Crafar Farms deal ticks the boxes – but where does it end?
- pundit | Tim Watkin
The Crafar farms sale is a canny deal with undoubted benefits for New Zealand. So why the fuss? Because each sale of productive land offshore raises questions about our future economically and as Kiwis
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Record dairy production gives rise to unexpected trade surplus
- Stuff | Fairfax NZ News
Record dairy production led to New Zealand running an unexpected trade surplus at the end of 2011, a sign of continued overseas demand, despite fears of a meltdown in key markets.
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Insiders tipped to buy Dairy Holdings
- Stuff | Fairfax NZ News
Dairy Holdings looks set to stay in New Zealand ownership with existing shareholders said to be buying the remainder of one of the country's largest dairy groups.
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Landcorp signs Crafar farms deal
- Dominion Post
Landcorp has lost its last chance to own the Crafar Farms after its board yesterday signed a deal to run the 8000 hectares of dairy farming land for a Chinese conglomerate.
Had Landcorp opted out of the deal, it may have scuppered the Shanghai Pengxin bid and opened the way for the state-owned enterprise to re-enter the race for ownership of the farms.
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Chinese might train on Crafar dairy farms
- Stuff | Fairfax NZ News
Chinese farmers could come to New Zealand to learn dairying at Crafar Farms if the controversial $200 million sale of Crafar's 16 North Island farms to Shanghai Pengxin proceeds, Landcorp chief executive Chris Kelly says
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Fonterra could lose out in Crafar Farms deal
- Newstalk ZB
Fonterra may be the big loser in the Crafar Farms deal.
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Judcial review of Crafar sale set for Friday
- Radio New Zealand
A legal challenge regarding the steps taken relating to the sale of the Crafar farms to a Chinese conglomerate will be heard in the High Court in Wellington on Friday.
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Labour opposes Crafar sale to Chinese
- NZ Herald
Labour says its opposition to the sale of the Crafar farms to a Chinese company is not racist.
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Change to foreign ownership law possible, says PM
- Stuff
Prime Minister John Key says the Government would look at changing the law to limit foreign ownership of productive land if there is growing public concern.
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Big farm sale expected in New Zealand
- TV3 News
The sale of a company owning 72 farms in the South Island is about to emerge from the largest receivership in New Zealand history.
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Crafar predicts sale legal action
- The Domion Post
Former Crafar farms owner Allan Crafar says the Government has "broken its own rules" in allowing the sale of the 8000 hectare dairy farming estate to Chinese company Shanghai Pengxin – and he predicts plenty of legal action ahead.
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The 2012 political circus is up and running
- The Dominion Post | Tracy Watkins
On the campaign trail, Mr Key tapped into the deep vein of anti-foreign ownership sentiment when he said he did not want to see Kiwis become "tenants in their own land". His words are now being thrown back at him. Changes to the Overseas Investment Act in the wake of those comments were little more than tinkering.
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John Key called into question over Crafar Farms
- Waikato Times | John Hartevelt
With the Crafar Farms finally set to go to Chinese hands, Prime Minister John Key has been accused of "weak-kneed leadership" over the sale.
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Editorial: NZ's interests must be kept in mind
- New Zealand Herald | Editorial
In coming to any view of the sale of the Crafar farms to a Chinese-owned company, the national interest must be kept clearly in mind. The national interest lies in seeing all economic assets in the hands of those who will develop them for the best possible return.
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Should the Crafar farm deal have been approved?
- New Zealand Herald
Should the Crafar farm deal have been approved? Here is the latest selection of Your Views:
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Bernard Hickey: False comfort from chief borrowing addict
- New Zealand Herald | Bernard Hickey
Don't worry so much, said Key this week, as he justified the sale of our largest privately owned group of dairy farms and foreshadowed heavier foreign borrowing over the next couple of years.
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Maori Party 'outraged' at Crafar Farm sale
- TV3 News
Maori Party co-leader Pita Sharples said “our land should stay in our hands”.
“We are totally outraged that the Overseas Investment Office would approve the sale of this massive land holding to foreign investors,” said Dr. Sharples.
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Ministers Set Up Open Season on New Zealand Farmland
- Scoop | Press Release: Crafar Farms Purchase Group
"Last November, during the election campaign, Prime Minister John Key was only concerned about public opinion - but he now says public opinion does not count in this decision. The result is that all New Zealanders, and in particular Kiwi farmers, have been shafted."
Mr Peni said Shanghai Pengxin has no background in farming.
"Shanghai Pengxin is just an agent for the Chinese Government and if it can get approval to buy Kiwi land then any foreign company or government has a free hand to buy whatever farmland they want in New Zealand. No Kiwi farmer could compete against this sort of international money and diplomatic pressure and stay in business."
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Chinese overseas investment draws Davos scrutiny
- New Zealand Herald
Chinese investment abroad is drawing scrutiny as global leaders increasingly look to China to prop up the world economy, even though some remain wary of the country's dominance.
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Ministers set up open season on NZ farmland
- Newswire | Guide2
The decision by two Government ministers to sell the Crafar Farms to the Shanghai Pengxin Group is wrong in law and, if not overturned by Judicial Review, sets up open season for any foreign buyers wanting New Zealand land, the Crafar Farms Purchase Group said today.
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China's richest man gets NZ dairy base
- MSN NZ
The purchase of 16 Crafar farms is a base for expansion in dairying by Zhaobai Jiang, reputedly the wealthiest person in China, according to the Overseas Investment Office (OIO).
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Fay group heads to court over Crafar farms
- TV3
A rival group which bid for the Crafar dairy farms will head to court next week in an effort to reverse a decision allowing a Chinese company to buy the farms.
Read more: http://www.3news.co.nz/Fay-group-heads-to-court-over-Crafar-farms/tabid/421/articleID/240920/Default.aspx#ixzz1kcReku60
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Crafar farm sale draws political flak
- Stuff
Political opponents of the Government have quickly lined up against the sale of the Crafar Farms to a Chinese Government-backed bidder, confirmed this morning.
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Chinese Developer Wins Approval to Buy 16 New Zealand Farms
- Bloomberg
Shanghai Pengxin Group Co., a Chinese property developer seeking to export dairy products to Asia, won approval to buy 16 New Zealand dairy farms amid local objections to rising foreign ownership of assets.
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Fay group fights Crafar farms sale to Chinese
- TVNZ
"Back in September 2009, Finance Minister Bill English was justifiably boasting about law changes he had achieved to allow ministers to veto OIO recommendations for large-scale foreign buyouts of New Zealand farmland," Fay said.
"That two ministers have failed to apply Mr English's laws properly makes a mockery of his boasts."
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Key defends sale of Crafar farms to Shanghai Pengxin
- The National Business Review
Prime Minister John Key has defended his government's decision to allow China-based Shanghai Pengxin's to buy the troubled Crafar farms.
Mr Key said at a press conference this afternoon that critics, including New Zealand First leader Winston Peters who accused him of "economic treason," had their heads in the sand.
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Crafar farm decision a kick in the guts for Kiwi farmers
- David Shearer | Labour Party
The Government’s decision to allow the Crafar Farms to fall into foreign hands opens the way for more New Zealanders to become tenants in their own land, Labour Leader David Shearer says.
“We cannot sell our way to a brighter future, yet this Government seems determined to do exactly that.
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Crafar farms sale to Chinese group approved
- Waikato Times
"It's pretty disappointing that the Government can bow to this sort of [political] pressure, they are breaking their own rules." Said Crafar.
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Government approves Crafar farm sale to Chinese group
- Radio New Zealand
The Government has approved a bid by Chinese conglomerate Shanghai Pengxin to buy the Crafar farms.
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Crafar farms sale to Chinese group approved
- Stuff
Allan Crafar says the sale of his family's farm estate to Chinese bidders breaks the Government's own rules and he predicts more legal action ahead.
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Crafar sale 'sets up open season'
- New Zealand Herald
.. today's decision to approve the farm sale to Shanghai Pengxin Group "sets up open season for foreign buyers".
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Chinese company okayed to buy Crafar farms
- TVNZ
The controversial sale of the Crafar farms to a Chinese company has been approved by the Government.
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Chinese bid for Crafar Farms accepted
- TV3 News
What next?
A bid for Crafar Farms by the Chinese Shang Hai Pengxin Group Co. Limited has been accepted by Land Information Minister Maurice Williamson and Associate Minister of Finance Dr Jonathan Coleman.
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Farm sector 'fire sale' sparks food fear
- New Zealand Herald
The level and manner of foreign investment in Australian agriculture is sounding alarm bells amid growing concern that the nation's own food security could be compromised.
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Crafar sale to Chinese approved
- New Zealand Herald
The NZ FOR SALE signs are up.
The Chinese Government-backed Shanghai Pengxin bid for the 16 Crafar farms has been approved.
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Decision due on Crafar farms tonight or tomorrow
- New Zealand Herald
A ministerial decision on the sale of 16 farms to China's Shanghai Pengxin is due late tonight or tomorrow, the High Court in Wellington heard today.
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No part for public opinion in China farm sale - Key
- New Zealand Herald
Public opinion will play no part in the decision on whether ministers approve of the sale of 16 Crafar farms to Shanghai Pengxin company, Prime Minister John told reporters today.
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Political round-up: January 26
- New Zealand Herald
Being 'tenants in our own land' was a good campaigning line for John Key last year, but he may get sick of being quoted on it very soon.
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Sir Michael Fay Crafar consortium gets breathing space
- Stuff | Fairfax NZ News
Lawyers acting for Sir Michael Fay have reached out-of-court deals with ministers and Shanghai Pengxin that could allow them to seek a judicial review next week to the proposed sale of Crafar Farms to the Chinese firm.
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Ministers ponder decision on Crafar farms sale
- TVNZ
The future of 16 Crafar family dairy farms is now in the hands of two Government ministers.
They are mulling over a recommendation from the Overseas Investment Office on an offer from Chinese company, Shanghai Pengxin.
Now the Labour Party is adding to calls for the decision to be revealed before the farms go unconditional.
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Labour responsible for selling land - Key
- New Zealand Herald
Prime Minister John Key said that if Labour were to look at its own track record, "they were responsible for about 650,000ha of land being sold overseas".
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Shearer calls for Chinese Crafar bid to be rejected
- New Zealand Herald
Labour leader David Shearer is seeking to make the Government uncomfortable as a decision on a bid by a Chinese company to buy the Crafar farms looms by visiting one of the farms in question, where he called on the Government to reject the bid.
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Chinese cash flows to Nats
- New Zealand Herald
Chinese New Zealand businesses, including one formerly owned by the businessman spearheading Shanghai Pengxin's bid for the Crafar dairy farms, have boosted the National Party's coffers by more than $100,000 in recent days.
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Shearer visit to highlight Crafar bid opposition
- New Zealand Herald
Labour leader David Shearer will visit one of the Crafar farms today to highlight his opposition to a bid to buy the farms by a Chinese company.
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Fay group review call aims to delay a Pengxin buy
- Stuff | Fairfax NZ News
Sir Michael Fay's farmer group has cranked up its 11th hour efforts to thwart a Chinese purchase of the Crafar dairy farm estate, asking the Government to impose a High Court test on any approval it may give Shanghai Pengxin.
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Govt has decision on Crafar farms - Video
- TV3 | Campbell Live
Who should own our land?
Tonight, we can exclusively reveal that the Government has the Overseas Investment Office decision on the Crafar farms.
Will the 16 diary farms be sold to the Chinese investors prepared to pay $200 million for them?
Or will the New Zealanders, offering $170 million, be able to keep the farms in Kiwi hands?
Two radically different outcomes, with radically different consequences.
Watch the video.
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Crafar farm bid decision close
- New Zealand Herald
The Overseas Investment Office says it will make a decision on whether to approve Chinese company Shanghai Pengxin's bid to buy the Crafar dairy farms before the January 31 deadline for the deal set by receiver Michael Stiassny.
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Why Key will let Chinese buy Crafar farms
- New Zealand Herald | Fran O'Sullivan
Realpolitik dictates that John Key will not brook controversy over Shanghai Penqxin's bid for the Crafar dairy farms overshadowing the upcoming 40th birthday party between New Zealand and China.
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Third arrest over failed Crafar farm bid
- Stuff | Fairfax NZ News
The alleged web of lies a Chinese consortium wove to try to buy up 16 North Island farms then sell them for a profit has become more tangled, with a third arrest yesterday.
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Fay ready to fight China farm deal
- New Zealand Heald
Chinese company Shanghai Pengxin's bid to buy the Crafar dairy farms will face a high-powered legal challenge from a rival group of buyers led by businessman Sir Michael Fay if it gains Overseas Investment Office approval.
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Legal challenge looms if Chinese win Crafar farms
- New Zealand Herald
The Overseas Investment Office faces an unprecedented public examination of its process for approving sales of New Zealand farmland to foreign investors if it approves the bid by China's Shanghai Pengxin Corporation for the 16 farms formerly run by the Crafar family.
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Hillary's 'can do' spirit still inspires
- New Zealand Herald
Kiwis were similarly possessive about New Zealand farms, with nearly half of those polled keen to keep agricultural property in local ownership.
This result was significant given that the Overseas Investment Office was at the time considering whether to sell the Crafar dairy farms to a Shanghai investment group.
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Landcorp in talks to run Crafar Farms for Pengxin
- The New Zealand Herald
State-owned Landcorp Farming is in talks to operate the Crafar Farms should Shanghai Pengxin Group's application to the Overseas Investment Office succeed but it has denied a report it would pay $18 million a year in rent.
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Foreigners have invested heavily in their land holdings here
- The Gisborne Herald
Foreign investment riles many New Zealanders, especially if it involves large tracts of farmland.
The debate intensified after a Chinese company, Natural Dairy, sought to buy the 16 Crafar farms put into receivership in 2009. Its bid was turned down by the Overseas Investment Office, which is still looking at a proposal from another Chinese bidder nine months after it was lodged.
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Mystery $1.3b bid to buy asset
- The Dominion Post
A mystery foreign group won approval to buy a big chunk of New Zealand in a secret $1.3 billion deal last year
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Latest round of overseas investment
- National Business Review
Overseas businesses are increasing their investment in property, retail, car parts, wine-making, cement, the horse business and small-scale air transport.
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Coast farms sell for $21.25 million
- The Gisborne Herald
Waikura and Pakira stations — totalling 5022ha of freehold and 1480ha of leasehold and licensed land — were sold for $16.25m by the Ingleby Trust to Monte Forestry Ltd. It is a New Zealand-registered company 100 percent owned by Christian Welte of Switzerland.
The company also bought nearby Rewhetu Station (1926ha), also in the Waikura Valley, for $5m.
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Crafar decicion must not fall through Xmas season cracks
- Scoop | Press Release
Crafar farms decision must not fall through Xmas season cracks.
“A successful bid by an overseas company for a significant chunk of New Zealand’s productive farmland will have implications for our future as a nation which relies on dairy for export earnings.
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Fay unhappy at Landcorp's possible Crafar deal
- TVNZ
"Landcorp is effectively helping to shut out a New Zealand bid, competing against our own dairy farmers and flying in the face of public opinion polling that shows 80 percent of New Zealanders want the government to step in and stop the sale of the Crafar farms to foreign buyers," Fay said in a statement.
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Landcorp Boss has head in sand
- Voxy
Landcorp Chief Executive Chris Kelly has his head firmly buried in the sand if he can't see a conflict in supporting an overseas bid for the Crafar Farms, says New Zealand bidder Sir Michael Fay.
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Pengxin proposal is unsustainable-Fay
- The Waikato Times
The Chinese bidder for the Crafar dairy farming estate is proposing a risky investment with a low rate of return which could not be environmentally sustained, says a rival group headed by Sir Michael Fay.
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Landcorp in talks with Chinese bidder to run Crafar farms
- Stuff
If Chinese company Shanghai Pengxin gets the Government's all-clear to buy the Crafar farms, it looks increasingly likely that state-owned enterprise Landcorp will run them.
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German buy up of Southland dairy farms continues
- Radio New Zealand
German investment in Southland dairy farming is continuing to grow. The Overseas Investment Office has approved the application by a German farm investment partnership to buy a sheep and beef farm in eastern Southland to convert to dairying.
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Merits of family farm model debated at meeting
- Radio New Zealand
A mid-Canterbury farmer representative says the family farm model is under threat as high land values attract foreign investment in New Zealand pastoral land.
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No to Chinese Crafar sale, says Fay poll
- NZ Herald
Polling for the Michael Fay-led consortium trying to buy the Crafar dairy farms shows an "overwhelming desire for the government to stop in and stop the sale" to the would-be Chinese buyer, Pengxin International
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Media Release: Save the Farms - What the Parties said
Save the Farms asked all the major political parties two questions to provide the New
Zealanders with a clear understanding of their views on the sale of sensitive land, in
particular, farm land.
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Former Natural Dairy boss Jack Chen bailed for $5m
- Stuff | Business
Chinese businessman and former Natural Dairy executive chairman Jack Chen - who was involved in a failed bid to buy the Crafar farming empire from receivers - has been arrested and charged with accepting a HK$73 million [NZ$11.8m] bribe from May Wang.
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Greens oppose overseas sale of Turners and Growers
- Radio New Zealand
The Green Party says selling the country's biggest fresh produce company to overseas interests would be not be good for New Zealand. Dr Norman says overseas investors should be made to go through a more rigourous test before they purchase New Zealand land or businesses.
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PGC fund in land buy
- Stuff | Sunday Star Times
Details of Torchlight's Queenstown deals came to light after a mysterious new investor acquired a 27% stake in Torchlight (GP) 1.
That move required Overseas Investment Office approval, but when the OIO released its decision approving the deal, both the OIO and Torchlight went to considerable lengths to prevent the details being made public. The identity of the new investor, the name of the Torchlight fund, and the cost of the investment were all withheld on grounds of commercial sensitivity, in spite of the considerable and legitimate public interest in PGC's affairs.
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Kiwis against farms to foreigners - poll
- Waikato Times
A UMR Research survey, commissioned by a North Island farmer group trying to buy the in-receivership Crafar dairy farms against a Chinese bid, showed 82 per cent of 500 respondents believed foreign ownership of farms and agriculture land was a "bad thing". Only 10 per cent believed it a "good thing" and 8 per cent were unsure.
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Chinese milk factory closes
- Sunlive
About 50 people have lost their jobs as the New Zealand business deals of Chinese businesswoman May Wang unravel.
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Silence on land sales idea disappoints party
- Radio New Zealand
The Maori Party says the Government has failed to respond to its call for tribes to be offered land and forestry blocks before overseas buyers.
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Fraud charges rock big-money deals
- NZ Herald
Laying of bribery and money laundering charges against two former Crafar farms bidders has left the future of multi-million-dollar projects in New Zealand and in the Pacific up in the air.
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Former Crafar farms bidder charged with bribery
- TVNZ
Auckland bankrupt May Wang, who was associated with a bid to buy the Crafar group of farms, has been charged with bribery and money laundering in Hong Kong.
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Landcorp role in Crafar bid questioned
- Stuff | Andrea Fox
"Landcorp is well known in the farming community for buying farm land in competition with locals - effectively using taxpayers' money to outbid those same taxpayers," Fay said.
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Crafar farm decision delay alleged
- Waatea 603AM
New Zealand First leader Winston Peters is accusing the Overseas Investment Office of holding off until after the election its decision on whether a Chinese firm can buy the Crafar farms.
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Crafar Farm Decision Drags On
- Waikato Times
The Overseas Investment Office's processing of the latest Chinese bid for the Crafar dairy farming estate drags into its seventh month, with the Government agency confirming it has received the extra information it was awaiting.
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Analyst's plea: Shun China's cash
- New Zealand Herald
New Zealand should avoid large-scale Chinese investment in farming and infrastructure, a leading United States analyst on the Asia-Pacific region warns.
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Foreign farm buy-up
- Gisborne Herald
THE trend of district farms being sold to overseas investors is continuing, with the Overseas Investment Office this week approving the sale of Raroa Station, inland of Whangara, and Strathblane Station at Hangaroa.
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Land sales for forestry approved
- Radio New Zealand
The Overseas Investment Office approved the sale of another 22,000 hectares of land to foreigners in August, most of it for forest development.
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Global commodity boom driving farmland bids
- Stuff | Business
Sir Michael Fay, his mainly Maori colleagues, and the rival Chinese bidders for the Crafar dairy farms, have one thing in common. In a world where global investors are all looking for safe havens for their money, they see New Zealand farmland as good buying.
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Landcorp's courting wrong, says Fay
- Waikato Times
Landcorp's "courting" of the Chinese bidder for the Crafar farms is wrong and creates a massive conflict of interest for the Government, says underbidder frontman Sir Michael Fay.
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OIO inscrutable over Chinese bid
- Stuff
If there's one thing Prime Minister John Key is particularly bad at, it's taking questions at his weekly post-Cabinet press conference that he doesn't particularly like.
This week, that topic was the delay by the Overseas Investment Office in reaching a conclusion on the bid by a large, reputable multi-national Chinese business, Pengxin, for the Crafar farms.
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Crafar farms development
- Waikato Times
In a new twist to the Crafar farms saga, state-owned enterprise Landcorp has confirmed it is talking with aspiring buyer Shanghai Pengxin about being involved in the running of the dairying estate.
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Kiwi bid could stir election pot
- The New Zealand Farmers Weekly
The head of an iwi group keen to invest in Crafar farms has thrown down a challenge to the Overseas Investment Office (OIO) to make a decision on the Chinese bid before the election.
The OIO received the application from Shanghai Pengxin six months ago, but no decision has yet been made by the office. Overseas Investment Act rules aim to have approvals sorted within 70 days.
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Investment welcome mat rolled out for Chinese Deputy Premier
- NZ Herald
The visiting Chinese Deputy Premier, Hui Liangyu, got concrete proof that Chinese investment in New Zealand is welcomed, with the signing of a memorandum of understanding at the Prime Minister's official residence in Wellington today.
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Fay and Maori bid $171.5M for Crafar
- TV 3
A syndicate of local iwi and farmers led by expatriate Michael Fay have lodged a $171.5 million bid for the Crafar family farms. (See interview from Campbell Live)
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Rich-lister increases Crafar farm offer
- N Z Herald
The group had previously indicated an interest in nine of the 16 Crafar farms. Now more farmers, including local iwi interests, have joined a $171.5 million offer for all 16 farms - an average of more than $28,500 per hectare for the properties - Sir Michael said in a statement.
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Fay leads local bid for all Crafar farms
- TVNZ
"We'd like to be on the farms before Christmas to get them up to full production for the new season starting in mid 2012," he said when announcing the bid today.
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Who cares what foreign investors think?
- Stuff | TIM HUNTER
There are some things governments would really rather not deal with in the run-up to an election. There are messy issues, for example, where a decision one way can look weak and unprincipled, while a decision the other way can look, well, weak and unprincipled.
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Foreigners have a stake in 11 per cent of farmland
- Sydney Morning Herald
FOREIGN investors have a stake in more than 10 per cent of the nation's farming land, and 9 per cent of valuable agricultural water entitlements, figures show.
Amid a debate over ''selling the farm'', the Bureau of Statistics said yesterday 45 million hectares - 11 per cent of Australia's farming land - was at least partly foreign-owned.
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New report finds 12 per cent of Queensland's agricultural land is owned by foreigners
- The Courier Mail
LESS than 1 per cent of Queensland's farms are foreign-owned, according to government data.
But almost 12 per cent of the state's agricultural land is owned by foreigners.
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German investment fund buying up Kiwi dairy farms
- Stuff | Business Desk
Funds advised by Aquila Capital Green Assets, part of Germany's Aquila Group, have acquired interests in 3983 hectares of farms in the past 12 months, according to approvals granted by the Overseas Investment Office.
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Property wrangle for Sept 11 couple
- NZ Herald
An American couple who fled the US after 9/11 are charged with trying to buy idyllic Northland property without Overseas Investment Office approval.
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More foreign investment in Walter Peak Station
- Radio New Zealand News
The Overseas Investment Office has allowed foreign investors to lift their shareholdings in one of New Zealand's best- known high country stations.
Walter Peak Station Trust owns or controls about 26,000 hectares of land in Queenstown beside Lake Wakatipu.
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German firm spends up large in region
- The Southland Times
A German investment management company, believed to be one of the largest players in rural Southland, has further strengthened its position by spending more than $20 million on dairy farms.
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NZ still a target for Chinese dairy firm
- New Zealand Herald
It has told shareholders that stake is now worth HK$470 million, and it still intends to buy the rest of the company (UBNZ Assets), "including its dairy properties and dairy cattle interest".
However, it has made no mention of the fact that the OIO claims it purchased those properties, which total nearly 9000ha with more than 28,000 cows, illegally.
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Foreign buyers see value in NZ dairy farms
- NZ Herald
Since the start of 2006, the OIO has approved the sale to foreign buyers of 300,400ha of freehold land
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Fay playing 'local' card with Crafar bid
- Fran O'Sullivan | NZ Herald
Fay as saying, "I believe that retaining dairy farm land in local ownership is a key to maintaining long-term control of New Zealand's key export earner and also key to retaining our trading advantage."
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Rich-lister leads bid to keep farms from Chinese
- David Fisher | NZ Herald
One of the country's richest men has emerged as a white knight investor with a $105 million bid for big dairy farms that could otherwise be sold to China.
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No answers yet over Crafar purchase
- Andrea Fox | Stuff
The Overseas Investment Office (OIO) is still waiting for a response more than a year after calling for answers from Chinese-backed Natural Dairy and UBNZ Assets over the unauthorised purchase of four Crafar-associated farms.
Nearly a year later in April this year, the OIO said it was seeking legal advice on what action to take over what it now deems to be an illegal purchase.
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Germans dominate small dairy buys
- The New Zealand Farmers Weekly | Newsmaker
Despite its size and profile a German purchase of a large scale dairy unit in Southland is a small percentage of the total land being sold to overseas interests. But despite their high profile the German purchases still only account for less than 3% of the total farm area bought over the six year period. The purchases do however make the Germans the single largest foreign buyers of dairy land sold over the period accounting for 5760ha, over half total foreign dairy farm sales
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Chinese say farmland investments not to be feared
- TV3 News
The Chinese Government says it remains firmly interested in buying New Zealand farms despite the recent knock-backs.
The Chinese Embassy wheeled out a government spokesman today in a rare move, to tell New Zealander’s they have nothing to fear from Chinese investment.
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China encourages its firms to invest more in NZ
- Radio New Zealand
The Chinese Government is encouraging its businesses to invest more heavily in New Zealand.
The political counsellor at the Chinese embassy in Wellington, Cheng Lei, says China wants its businesses to expand globally and New Zealand is an obvious place to invest.
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China begins green tea charm offensive
- Stuff
China is calling on New Zealanders to take an even-handed view of foreign investment as it eyes buying dairy farms and mining assets.
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Shut the gate: why cash-strapped landowners are selling the farm
- The Age | Australia
Australia's sweeping plains are being overrun by rural raiders from overseas. Leonie Lamont and Paddy Manning explain how the humble back block has become global hot property.
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'Think Tank' (Saturday 30 July 2011)
- TV3 - 'Think Tank'
News and current affairs programme hosted by John Tamihere. Panel discussion on the sale of New Zealand farmland. Panel includes Tony Bouchier, spokesperson for Save the Farms.
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Forming a Government For The People
- Rt Hon Winston Peters - Speech 31 July 2011
In the last two years under National the Overseas Investment Office has rubber stamped the sale of 50,000 hectares of good land to foreign buyers.
This doesn't include the 8,500 hectares of Crafar Farms which are going to be sold to foreign buyers after the election.
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Ruckus over Taranaki farm sell-off
- Taranaki Daily News
The possible sale of more than 2000 hectares of eastern Taranaki farmland to an overseas investor for a forest plantation is alarming Federated Farmers.
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Opinion: Here's three charts showing how the foreign profit and interest drain has made New Zealanders poorer since 2003
- Bernard Hickey | Interest.co.nz
Ever wondered why it seems New Zealanders can't ever seem to get ahead despite apparent growth in Gross Domestic Product?
The simple answer is that any growth we saw in the last six or seven years was being gobbled up by either population growth or the ever-growing drain on our economy from profits sent offshore to foreign owners of assets here or interest payments to foreign creditors.
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Overseas Investment Office figures show 72 farms sold to foreigners in 18 months to June, two declined
- Rural News
The Overseas Investment Office approved 72 farm sales to foreigners in the 18 months to June, while two were declined, figures released by Finance Minister Bill English's office show.
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Global land grab missed NZ - report
- TVNZ
New Zealand's relative isolation and high-priced property means the nation has missed out on a global grab for land, especially farms, despite rising public disquiet about such sales, the New Zealand Institute of Economic Research says.
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Crafars and receivers come to agreement
- NZ Herald
And they say they remain hopeful the Government will reject the latest Chinese bid for 13 dairy farms and three drystock farms they formerly owned in the central North Island.
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Keep watch on foreign buyers: MP
- The Age | Business
The issue wasn't foreign investment as such but ''we need to know more than we do about who is investing in our agricultural sector and why'', Mr Frydenberg told Parliament
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Qatar land grab angers bush
- The Age
A LARGE investment in prime Western District farmland by the Qatar government is increasing pressure for a toughening of Australia's foreign ownership rules.
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Who's afraid of the Big Red Dragon?
- Stuff | Blog - John Hartevelt
If we were worried about foreigners bingeing on debt bonds or buying up farmland, shouldn't we have been clamouring over the 36 separate sales of agricultural land to British investors in the past five years? Or the dozen dairy farms flicked off to the Germans in nine months last year?
We know that, be assured Save the Farms is concerned about all of the sales - STF
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KPMG calls for national debate on farming sector
- Stuff | Business
Business adviser KPMG is calling for a national debate on agricultural questions such as genetic engineering, foreign investment and intensive farming so urban dwellers have a better understanding of the rural economy.
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Voyage to the land of milk and honey
- Stuff | Business Day
Thwarted Crafar farms' buyer Jack Chen is offside against New Zealand but says it's time to interfere with the play, regardless.
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Chinese Want More Than The Crafar Farms
- Country 99 TV
It appears the latest Chinese company trying to buy Alan Crafar’s dairy farms has its eyes set on a lot more than just the Crafar farms. A spokesman for the company says it is interested in buying anything that is big enough, and related to Chinese interests.
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Acting Treasury head defends foreign investment, says restrictions likely won't help address NZ's external liability position
- Interest.co.nz | Rural News
The Opposition Labour Party has also announced a strict policy on foreign ownership of New Zealand assets it would implement if it wins power in the November 26 election. In contrast Makhlouf again reiterated that Treasury recommended removing all screening of foreign investment.
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Chinese Crafar bidder plans more investments
- Stuff | Business Day
The Labour Party says fuller details on potential New Zealand investments by Crafar farms bidder, Chinese conglomerate Shanghai Pengxin, makes a "nonsense" of the Government's claim to have tightened overseas investment rules.
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A new way of doing dairy business
- Southland Times
A year ago today Digby Crompton became one of 11 directors in a MyFarm dairy syndicate at Mabel Bush, about 20km east of Invercargill, after buying 25 shares on behalf of his 92-year-old family-owned company based in Auckland's CBD.
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Should we fear becoming tenant farmers?
- Yahoo | Business Desk
Kiwis had an opportunity to invest in milk powder processor Synlait. They passed on it. Similarly, there's plenty in the farming community who have looked at the Crafar farms and kept walking.
The global superpowers are in a desperate race for resources. China, the U.S., South Korea, Germany and the U.K. jockey to grab a share of everything from oil reserves to food and biofuels.
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Crafar farms just the start for Chinese
- Waikato Times | 01/06/2011
The chairman of New Zealand's largest dairy company has issued a warning over foreign ownership of Kiwi land.
''For me New Zealand needs to leverage its strategic assets and land and water are our strategic assets, so I'm actually uncomfortable with foreign ownership,'' Sir Henry said. ''That's where our future is so we've got to be very careful.''
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China’s Interest in Farmland Makes Brazil Nervous
- The New York Times | CNBC
Brazil — When the Chinese came looking for more soybeans here last year, they inquired about buying land — lots of it.
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Opinion: The land crisis
- Interest.co.nz | Rural News | Neville Bennett
The way that NZ 'manages' its land is now in deep crisis. Land is fundamental to the health of our society, and especially to its continuity, but it hardly figures in debates and there is no action by politicians to ensure that it is used efficiently and equitably.
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No pressure on govt for sale of Crafar farms to Chinese, English says; Crafar bidder Pengxin says it may look at forestry, real estate investment too
- Interest.co.nz | Rural News | Alex Tarrant
Pengxin's bid for the 16 Crafar farms is the first foreign application to fall under new overseas investment rules announced last year that give government ministers the ability to turn down applications on grounds of economic interests
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What price NZ? Land bid tests limits
- New Zealand Herald
While the OIO's role is to make a recommendation to the Government, the Government still has the ultimate say.
Even more ominously for National, other foreign buyers keen to acquire an even bigger stake in our farms are also anxiously awaiting the latest Crafar decision.
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Locals can’t rival Crafar bid
- The New Zealand Farmers Weekly
The prospect of another Chinese company bidding for the 8000ha Crafar portfolio has had local farmers like Raetihi's Gerry Dekker asking why the farms could not be sold off individually.
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Crafar farms bidder wants Kiwi partner
- The New Zealand Farmers Weekly
Partial ownership, toll processing or a joint venture with a dairy processor are possibilities for the latest Chinese company moving on the Crafar farms portfolio.
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Landcorp buys farmland from failed Tawera
- Stuff | Business
State-owned Landcorp has bought nearly 1300 hectares of farmland near Feilding after the $45 million receivership of the company that owned the land.
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More clarity needed on Chinese land bids
- NZ Herald | Business | Fran O'Sullivan
Until we get greater clarity all round, Chinese investment in NZ's agriculture sector will remain a thorny issue.
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German investor group snaps up a further $14m of Southland farms
- Stuff | Business
A German investor group has won approval to extend its purchases of Southland dairy farms, adding two more properties worth a total of $14 million. They won approval from the OIO with the promise of creating new jobs lifting farm production and building new homes and milking sheds on the farms.
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Graeme Hart sells off farms
- stuff.co.nz
In the last two months Hart, has sold eight dairy farms and one dry stock unit.
The buyers are understood to be New Zealanders.
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High global food prices make NZ vulnerable to land grab
- Scoop | Press Release: Green Party
High global food prices make NZ vulnerable to land grab.
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A lesson we shouldn't have to learn again
- NZ Herald | Brian Gaynor
The proposed sale of the Crafar farms to Chinese interests is an important national issue.
Based on the experience of the forestry industry, which is now mostly overseas-owned, this would not be in New Zealand's best economic interest.
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National pours on acid and Kiwis get burned
- Scoop
Labour says the latest application by foreigners to buy the Crafar dairy farms at mortgagee sale should not proceed.
Economic Development and Associate Finance spokesperson David Parker says Labour would make changes that would prevent such sales proceeding.
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Left in dark over Agria takeover
- New Zealand Herald | Business
Agria's bid for control of PGG Wrightson raised plenty of eyebrows in New Zealand's agricultural community. The takeover documents were virtually silent on Agria's intentions for the company and the seeds business (its prime asset) which has been built on the back of good public research.
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Chinese Developer May Buy Crafar Farms in New Zealand
- Bloomberg
Shanghai Pengxin Group, a Chinese property developer and owner of agriculture and mining ventures, is seeking to buy 16 dairy farms in New Zealand after the government rejected an earlier bid by another Chinese company.
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Chinese want NZ protein, not our land, says Shipley
- New Zealand Herald
"The Chinese don't want land, the Chinese want the resources and protein," she said on TV One's Q&A programme yesterday.
STF says, 'Great we are more than happy to sell them as much as much protein products as we can.'
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Nz First: Dairy Farms Sale Overseas Is "treason" - Peters
- Voxy
New Zealand First says reports of another potential sale of the 8,000 hectares of Crafar dairy farms to foreign interests amounts to a form of treason, which must be stopped.
Rt Hon Winston Peters told a GreyPower audience in Levin today that good dairy land in the world was at a premium and New Zealand simply could not keep letting its resources fall into foreign hands.
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Latest OIO application for the former CraFarms
- Scoop Business
“Federated Farmers preference was to have seen the 16 former CraFarms sold as individual farms when Natural Dairy’s bid hit the rocks of the Overseas Investment Office,” says Lachlan McKenzie, Federated Farmers Dairy chairperson.
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Govt must be clear on foreign buyers: Labour
- Stuff
It is time the Government told New Zealanders and the primary sector exactly where it stands on foreign investment in our productive land, says Labour agriculture spokesman Damien O'Connor.
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Chinese pitch a 'keep it Kwi' bid
- Stuff
Election year could torpedo a Chinese property magnate's application for Government consent to buy the Crafar farming empire, say opponents of the bid. "New Zealanders don't want our productive land sold overseas. We are marshalling our forces and there is an election coming up," said group spokesman Tony Bouchier.
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Crafar Farms: New Chinese offer 'by far the best'
- NZ Herald
According to the company, it has agreed to pay more than $200 million for the 16 farms. Natural Dairy offered $212 million.
Last year, Landcorp and other bidders publicly stated they believed the farms were worth significantly less than that,
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Farmers say Chinese Crafar bid 'acid test' of new-look OIO
- National Business Review
The bid by a Shanghai property tycoon for the 16 farms owned by four financially-troubled Crafar family companies will be an "acid test" for the government's revised Overseas Investment Office (OIO) rules on sensitive land deals, farmers say
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New China bid to buy Crafar dairy farms
- New Zealand Herald
Save the Farms spokesman Tony Bouchier said the group was opposed to any overseas investors.
"There is a credible offer here from Landcorp for that land, and we don't understand why they don't take it. These investors bring nothing to the table except money."
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Overseas Investment Rules Review—Sale of Forestry Blocks
- Hansard - Questions for Oral Answer
TE URUROA FLAVELL (Māori Party—Waiariki) to the Minister of Finance: Does he still believe that following the Government’s review of the foreign investment rules that “New Zealanders are able to feel that those things that they think are important about New Zealand are … protected”; ....
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China moves into Australian agriculture
- Australian Broadcasting Corporation
Professor Peter Drysdale from the ANU says China's growing investment in Australia will help our farmers become more competitive
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Tom Scott Cartoon | 'Ads we are not looking forward to'
- Stuff | Dominion Post | Tom Scott
Cartoon by Tom Scott on overseas ownership
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New trans-Tasman investment caps excludes sensitive NZ land
- Scoop | Business
The increased investment thresholds for injecting money across the Tasman doesn’t cover sensitive land, with farmland and fishing quotas still requiring official oversight.
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Rise in Australian investment threshold has dangers
- Scoop | Press Release: Council of Trade Unions
In a deal to be signed between the New Zealand and Australian Prime Ministers any Australian business investment in New Zealand valued under $477 million – almost half a billion dollars – will no longer be subject to scrutiny.
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Big sales boost farm prices
- Stuff | Business
A 13.5 per cent rise in the median price of a farm compared to a year ago is being attributed to a flurry of $10 million-plus sales in December.
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More openness needed regarding overseas buyers of NZ land
- Business Scoop
The Government must move to make the Overseas Investment Office more transparent so the public have the full facts about who is buying up New Zealand land, Green Party Co-leader Dr Russel Norman said today.10 February 2010
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Call for public investment applications
- Newstalk ZB
There are calls for all applications made to the Overseas Investment Office to be made public follow the release of yesterday's Crafar Farm bid.
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'Why not Landcorp?'
- Rural News | by Peter Burke
Save the Farms,spokesperson Tony Bouchier says it’s incredible the farms haven’t been sold to Landcorp, whose offer reflected a fair return on capital.
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From Beijing to Bavaria, they are buying our farms
- Brendon Burns, Labour Member of Parliament | NZ Labour Party
A major buy-up of South Island land by European consortiums raises serious questions about the Government’s approach to water and foreign investment issues, says Labour’s water spokesman Brendon Burns.
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Super Fund 'won't be drawn into bidding war'
- Stuff
We are concerned that most of the funds will be used to purchase overseas rural land rather than New Zealand farms. The Super Fund has said it is aiming to invest $300-$500m in rural land globally. Mr Whineray (GM Investments)said most of that would probably be invested overseas.
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NZ Super starts buying up farms
- New Zealand Herald
Save the Farms are pleased to note that the New Zealand Superannuation Fund's has purchased a 250ha farm in West Otago, keeping the farm in NZ ownership.
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Overseas investors buy $100m of land
- Otago Daily Times
European and New Zealand investors who have spent more than $100 million buying South Island dairy farmland in recent weeks
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Germans buy 3,314 ha of dairy land
- Stuff
German investors have splashed out more than $100 million in a month buying thousands of hectares of dairying land in the South Island. Save the Farms questions: "Why OIO decisions continue to be made behind closed doors, and the first New Zealander's hear of them is when it is a done deal?"
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Crafar sale to become 'election issue'
- TVNZ | Business News
Lobby group Save the Farms plans to make the sale of the Crafar dairy empire an election issue.
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Latest bid for Crafar dairy farms
- TVNZ Breakfast
Video - Save The Farms spokesman Tony Bouchier discusses the latest Chinese bid for the Crafar dairy farms.
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Farmers want benefits of overseas investment monitored
- Radio New Zealand
Federated Farmers wants the Government to monitor overseas farm purchases to ensure New Zealand benefits from the investments.
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Bidder believed to have limited experience
- Newstalk ZB
A bid for the 16 North Island farms from Shanghai's Pengxin Group has been accepted by receivers but is subject to Overseas Investment Office approval.
The new bidder for the Crafar farms is believed to have limited experience when it comes to farming.
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Crafar farm bidder withdraws, new offer on the table
- New Zealand Herald
Receivers for the farms, KordaMentha say they now have a new offer to purchase the 16 North Island farms, from Shanghai's Pengxin International Group Limited
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New land sale policy 'welcomes offshore purchasers'
- New Zealand Farmers Weekly
The government's new policy on the sale of lands to overseas interests does nothing to eliminate the potential for large-scale sales, the Save the Farms lobby group says.
"It appears to welcome offshore purchasers who want to buy up to 10 average sized farms - which could be in the most productive areas of New Zealand," McKearney said.
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Fall in land approved for sale to buyers from overseas
- Stuff | Business Day
The global recession is thought to be the main factor in a significant drop in New Zealand land being approved for sale to foreign buyers.
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Renewed hope Crafar farms could stay NZ-owned
- TV3 News
This year has seen much debate over the sale of sensitive land such as the Crafar farms to foreign buyers, and it's led the Government to tighten the rules over overseas investment. But farming groups believe the Government could do even more to encourage local ownership - wherever possible Kiwi land should stay Kiwi-owned.
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Joint effort to sell stake in Dairy Holdings
- New Zealand Herald
McGrathNicol's Kerryn Downey said, he would not speculate on who the potential buyer might be but said any overseas buyers would face gaining approval from the OIO as this is "very clearly a sensitive land interest".
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Landcorp’s Crafar bid still on the table
- Rural News
Despite being rebuffed by the receiver for Crafar farms, Landcorp says it’s still interested.
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Changes to tighten up criteria for foreign ownership of farmland
- Nick Wells, Partner at Chapman Tripp
Nick Wells, a partner at Chapman Tripp, says new measures to tighten up the criteria for foreign ownership of farmland and primary production companies will change nothing, as the Overseas Investment Office already considers such purchases.
This interview first aired on Radio NZ National's Morning Report programme on 10 December 2010.
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Ministerial Directive Letter
- Office of the Hon Bill English
Ministerial directive letter to the CEO of Land Information New Zealand. The governments response to Save the Farms and our supporters
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Directive letter sets balanced investment rules
- Beehive | Official website of the New Zealand Government
A new directive letter to the Overseas Investment Office provides extra clarity and certainty for potential investors about the Government’s general approach to foreign investment in sensitive assets
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No guarantees for NZ policies in trade talks
- National Business Review
The Government is offering no guarantees that New Zealand policies will not be changed to accommodate United States concerns in Trans-Pacific Partnership (TPP) negotiations.
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May Wang declared bankrupt - Video
- TV3 News
Comment from the Chair of Save the Farms following news of the finding of the Court to bankrupt May Wang
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Farm sales hit by doubt over OIO hurdles
- Stuff | Business
Uncertainty over foreign land deals is thought to be weighing heavily on efforts to sell a group of dairy farms in the central North Island.
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Farmer advocates NZ buyer
- Stuff | Taranaki Daily News
A buyer from New Zealand for an almost 30 per cent stake in corporate dairy farmer Dairy Holdings, one of the assets of South Canterbury Finance, is preferred by one of the shareholders because overseas ownership could restrict growth.
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Australia to Study Overseas Investment in Farms Amid Food Security Concern
- Bloomberg News
Australia, the world’s biggest wool shipper and second-largest dairy and beef exporter, will study the level of overseas investment in its farms amid concern over foreign ownership and food security.
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Free-trade Agreements—Suits for Breaches
- Question for Oral Answer | NZ Parliament
Dr RUSSEL NORMAN (Co-Leader—Green) to the Prime Minister: Does he stand by his comment, in relation to claims that investors are able to sue Governments for breaches of free-trade agreements, that such claims are “far-fetched”?
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Foreigners could be banned from taking monopoly stake in agricultural producers
- The Daily Telegraph | Australia
FOREIGNERS could be banned from taking a monopoly stake in key farm sectors such as dairy, rice and wheat as part of plans to protect Australia's food security.
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The recovery, the aftershock and the economic future
- Alan Bollard, Governor, Reserve Bank of New Zealand
The Global Financial Crisis has been the major economic event of our time. As we continue through the recovery phase and encounter unexpected aftershocks it is timely to reconsider what this means for New Zealand.
New Zealand is not a huge food producer (not being among the top half dozen producers of any of the world’s key food product groups). However our food exports (as a % of GDP) top the world, and we are the best placed in competitive terms in Nomura’s food vulnerability index.
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Canada Plans New Guidance on Takeovers After Potash Rejection, Harper Says
- Bloomberg
Canada’s prime minister said his government plans to provide “guidance” to investors on what kinds of foreign takeovers it will tolerate, after the country rejected Melbourne-based BHP Billiton Ltd.’s bid to acquire Potash Corp. of Saskatchewan Inc.
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China Clamps Down on Foreign Ownership of Property
- Real Estate Channel
Hoping to slow down speculators, China this week imposed new restrictions on foreign ownership of property.
Under the toughened up rules, foreigners will only be able to own one property on the mainland. And non-Chinese companies will only be able to purchase commercial real estate for their own use, according to published reports
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Foreign swoop on Australian farms
- Weekly Times Now | Australia
FOREIGN investors have snapped up billions of dollars in prime agricultural land and rural enterprises.
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Monitor foreign farm takeover: farmers
- Weekly Times Now | Australia
NSW farmers have called for a register to monitor the sale of all Australian farming land to foreign investors.
NSW Farmers’ Association president Charles Armstrong said today’s startling media reports showing foreign investors have snapped up more than $9 billion worth of prized agricultural land in the last 2 years, triggers alarm bells regarding food security.
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Fonterra: NZ land a competitive advantage
- NZI Business | TVNZ
Chief executive Andrew Ferrier said there's nothing wrong with a degree of foreign investment in New Zealand but "our farmland is really our competitive advantage and I don't think Kiwis want to see that sold off shore".
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Fonterra: Competition rules costly
- Stuff
Regulations forcing Fonterra to sell milk to increasingly overseas-owned competitors in New Zealand is costing the economy up to $450 million, says an economic report commissioned by the dairy giant.
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Fonterra: Keep farms in Kiwi hands
- New Zealand Herald
New Zealand cannot afford to lose control of its land, says Fonterra chairman Sir Henry van der Heyden.
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Foreign buyout
- 7 News - Australia Today
The great Aussie farmer is under threat – and it is nothing to do with locusts.
(STF-It is not just New Zealand feeling the pressure).
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Speech to Federated Farmers National Council - John Key
- Scoop
We will leave it to you to judge whether the measures to be taken by the Government do afford sufficient "checks and balances"
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Enough checks and balances on overseas investment in NZ - PM
- Radio New Zealand
The Prime Minister has told Federated Farmers the Government is confident it has enough checks and balances in place to control overseas investment in New Zealand land, without stifling the benefits it brings.
(STF-Nothing less than you would expect of a government elected by us, the only problem is that as yet no one knows what they are).
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Don't shut out foreigners: Fed Farmers
- Otago Daily Times
Federated Farmers president Don Nicolson has scorned the Save our Farms lobby group, saying the sector needs talented migrants.
(STF-'He clearly does not understand we have never opposed people coming to New Zealand to make a new life as did most of our forefathers whose families have continued to be on farms, growing New Zealand).'
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Key meets up with Save the Farms group
- NZ Herald
Prime Minister John Key has met with the Auckland-based Save the Farms group to discuss their concerns around farm sales to foreigners
(STF-Save the Farms thank the PM for coming to meet with us, and though we may not agree on all things that is the beauty of an open debate - which is what we have wanted all along)
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PM slams Save the Farms lobby group
- Dominion Post
Big-spending lobby group Save the Farms has been criticised by Prime Minister John Key, who says its policies are like something out of North Korea.
(STF-A dramatic statement indeed by the PM simply not reflective of the support we have received from the farming sector and the wider public who have expressed serious concerns).
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Govt considered relaxing foreign ownership rules
- TVNZ
Treasury papers reveal the government considered a significant relaxation of the rules for foreigners looking to buy rural land.
(STF-Well done to supporters of Save the Farms)
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Tresury releases papers on foreign investment
- Treasury NZ Government
Papers requested by Save the Farms have been posted on the Tresury web site. They disclose that the Minister of Finance at first sought to relax controls.
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A line in the soil
- Rural News | Damien O'Connor
THERE HAS been much comment from New Zealanders following Labour’s announcement that we will restrict the ability of foreign investors to buy farmland in this country.
Damien O'Connor responds.
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Green Party policy on land ownersip
- Green Party
Statement of policy and link to Greens Bill to limit foregn ownership of farm land.
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Brazil's dream factory hints at NZ's future
- NZ Herald Business 2 November
Gareth Morgan says global potential for our dairy know-how truly outstanding. Morgan criticises NZ mindless swill of xenophobia prevents this from happening within our borders. NOTE: Save the Farms has never opposed using NZ dairy expertise to invest in farms abroad. Securing NZ farms in NZ hands will not impede this type of investment as Fonterra has demonstrated.On-line comments support this view.
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NZ Labour Party Policy - Overseas Investment
- New Zealand Labour Party
The recently released policy of the Labour Party on overseas investment into New Zealand.
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New Zealand's risky re-regulation path
- Business Spectator
Amidst the commentary surrounding John Howard’s Lazarus Rising book launch, much has been made of whether 25 years of Australian liberalising economic reform has drawn to a close.
Meanwhile, in New Zealand, reform stalled a decade ago. Now, amidst anaemic economic growth and a stagnant economy, many are now advocating turning around and marching back in the opposite direction.
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Foreign ownership: first things first
- Rural News
AS POLITICIANS debate the issue of foreign ownership of farmland, let’s not forget our farmers.
Despite its relatively small size in the global community, New Zealand is an agriculture powerhouse in dairy and other agricultural exports. We’ve reached these heights by our farmers’ hard work.
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Approval of dairy farm sale frustrating, say Greens
- TV3 News
The approved sale of a large Otago dairy farm to an overseas investor for $34 million is a classic example of why rural land remains so expensive and out of reach for many New Zealanders, the Green Party says.
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Save the Cities
- Homepaddock
A group of concerned farmers has set up a lobby group called Save The Cities.
We appreciate their concerns and their humour.
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Foreign owners working the land
- Close Up | Television New Zealand
While foreign ownership of New Zealand land is generally a contentious point, there are some landowners working hard to change Kiwi perceptions. Save the Farms commends Unders and Emily Crofoot and the positives they have bought to their part of New Zealand.
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Labour's new policy examined
- Focus on Politics Radio NZ Naional 22 October 2010
Chris Bramwell takes a closer look at Labour's plans to change the rules around foreign investment
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SFO probe will not affect deal: Natural Dairy
- NZ Herald Business 23 October 2010
The Serious fraud Office's investigation into the Crafar farms purchase will damage the firm's reputation but not the deal itself according to a Natural Dairy spokesman. Also comments from Labour's overseas investment spokesman, David Parker.
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A very Kiwi kind of protest
- Sunday Star Times
The Save Our Farms lobby group has become a lightning rod for opposition to sales of farmland to foreigners – and the government has called them racists. Who are these people? Anthony Hubbard reveals the central players and what drives them.
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Bollard counters Key's farm sales "fearmongering"
- NZ Herald 21 October 2010
The head of the Reserve Bank has rejected claims by Prime Minister John Key that restricting foreign ownership of land could force Kiwi farmers from their properties. Save the Farms spokesman, Tony Bouchier, said the group believed National would further toughen up its own policy.
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A solution for sales of agricultural land - make it all leasehold
- Sharechat
The danger that New Zealanders could become tenants in their own land has encouraged David Mahon, an ex-pat kiwi business leader based in Beijing, David Mahon, to suggest that all agricultural land should be changed from freehold to leasehold.
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Bollard counters Key's farm sales 'fearmongering'
- NZ Herald
The head of the Reserve Bank has rejected claims by Prime Minster John Key that restricting foreign ownership of land could force Kiwi farmers from their properties.
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Overseas Investment - Farms and Forests Awaiting Sale Consents
- Hansard 20 October 2010
David Parker asks the Minister for Land Information, "How many farms or forests worth $1 million or more are currently the subject of Overseas Investment Office consent?" Hon Maurice Willimson replies, "Twenty-two".
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Labour's Overseas Investment Policy
- New Zealand Labour Party
Full paper
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Labour disagrees with Natural Dairy's claims
- Otago Daily Times 20 October 2010
The Chinese-backed company wanting to buy the Crafar family dairy farms claims it meets the Labour Party's strict new foreign investment criteria, but the politicians say it does not.
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Overseas Investment Act - Changes to Act
- Hansard 19 October 2010
David Parker asks the Minister of Land Infromation: When the Rt Hon John Key said in Breakfast TV yesterday, "we've changed the Overseas Investment Act to include 19 different criteria," had he advised the Prime Minister that 17 of those criteria were inherited from the last Government and two new criteria have not yet taken effect?
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Overseas Investment Rules - Prime Minister's statements
- Hansard 19 October 2010
Leader of the Opposition asks if the Prime Minister stands by his statement "I am concerned about the risk that new Zealanders become tenants in their own land".
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Foreign ownership vital - economist
- NZ Herald Business 19 October
John Carran of Infometrics says a dramatic change in approvals of foreign ownerhip of farms could impact on overseas investment on which the country is dpendent. Nicolson says foreign investors ownes 1% of land. In the scheme of things land is miniscule. There is some merit in reciprocity, he says.
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Debt adds extra pressure to sell assets
- NZ Herald Business 19 October Comment by Gareth Morgan
Morgan endeavours to deal with "a few hackles " raised by last week's column.
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Labour plan could force Kiwis off land claims Key
- NZ Herald 19 October 2010
Goff's intention to limit overseas buyers to 5ha brings fears of negative equity. Response by Labour's David Parker
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Don Nicolson says Labour policy is an infringment of farmers' property rights
- Radio NZ Morning Report 19 October 2010
Geoff Robinson discusses Labour policy and foreign investmentin NZ with Don Nicolson (Federated Farmers) and Murray Horton (Campaign against Foreign Control of Aotearoa)
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Foreign ownership of rural land
- New Zealand Economics - ANZ Market Focus | ANZ Bank
Monthhly newsletter from the ANZ Economics Team in NZ. This months article focuses on the economics around foreign ownership of our rural land
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Goff outlines Labour's foreign ownership stance
- Goff's speech to Labour Party conference: stuff report
Criteria for foreign ownership of farms and strategic assets.
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Save the Farms media campaign
- Radio New Zealand's Mediawatch 17 October 2010
Mediawatch looks at the campaign with Murray Horton and Pattrick Smellie
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Overseas Investment Rules - Purchases of Farmland Declined
- Hansard 14 October 2010
Furhter questions form David Parker to the Minister of Land Information. Minister has not declined any application since he became minister. He states if an application complies with the Act it will "get through".
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A feudal future?
- NZ Listener - Brian Easton - Econmy column
Estimates that more than a quarter of our assets are, in effect owned offshore. That proportion is growing.
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Overseas Investment Rules - Purchases of Farm Land
- Hansard 13 October 2010
Question for oral answer from David Parker to the Minister of Land Information
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Townies protecting country
- The New Zealand Farmers Weekly issue 4 October 2010 page 48
Jackie Bedford looks at what prompted a group of urban professionals to speak out and put their hands in their pockets.
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Bouyant Super Fund looks at farm buys
- NZ Herald Business
The NZ Superannuation Fund is close to naming a manager who will begin investing in local farms on its behalf.
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Natural Dairy again delays its results
- NZ Herald 12 October 2010
The Chinese-owned company hoping to buy the Crafar farms has once again delayed announcing its annual results. It revealed last month it was shelving its ambitious plans to spend up to $1.5 billion establishing a significant dairy business in NZ.
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What might happen if we restrict foreign ownership in farmland
- Roger Kerr, executive director, NZ Business Roundtable 8 October 2010
Save the Farms is calling for a fresh public debate. This is not unhealthy:foreign ownership, including in land, is an important topic. How should we think about the issues? Opinion posted + 67 comments
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Gareth Morgan: Selling land could unearth a pot of gold
- NZ Herald 12 October 2010
Cheap credit, growing demand for animal protein and fear over food security add up to foreign demand for NZ farms + 36 comments almost all opposed to sale of freehold of farms to overseas buyers
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Peters seen as bedfellow for land campaigners
- National Business Review 8 October2010
subscriber content
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Fears over US pressure
- NZ Herald 9 October 2010
Save the Farms group alrmed US may pressure NZ Government to allow American investors to buy unlimited farmland
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land-sale lobbyist rejects racism tag
- NZ Herald 9 October 2010
John McKearney says he is no racist and welcomes overseas buyers prepared to move here and become New Zealanders
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Survey of opininion on farm sales to foreign buyers
- Curia Maketing Research
Survey for Natural Dairy of attitudes to foreign ownership.
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Government urged to resist American pressure to sell more farmland
- Media Release
Save the Farms is alarmed the United States may pressure the New Zealand Government to allow American investors to buy unlimited farm land in this country.
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Land grab or boost for NZ?
- Stuff
Dominion Post Business Day Feature
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The free market god doesn't exist
- Bernard Hickey - NZ Herald
I feel like a priest who has been wrestling with his belief in god and has now decided god does not exist.
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New investment rules coming
- The New Zealand Week
New overseas investment regulations would be introduced in December that Finance Minister Bill English said would “provide extra clarity and certainty for potential investors”. “More likely it will produce doubt and confusion,”
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New campaign aims to keep NZ farms in NZ hands
- Campbell Live - 3 News
Interview with the founder of Save the Farms, John McKearney
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Peters critical of overseas investment changes
- NZPA
Foreign companies will be able to get around government changes to rules about overseas purchases of New Zealand land by appointing a local director, New Zealand First leader Winston Peters says.
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U-turns have rubber burning
- The Press
There was so much rubber being burned around Wellington as National and Labour clumsily executed their latest U-turns yesterday, it was surprising anyone could see above the haze.
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Parker: National Must Be Clear Whether It Will Turn Down Land Sales To Overseas Investors
- Voxy News
The Government must make clear whether they intend to begin turning applications by overseas investors to buy New Zealand farmland
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General welcome for overseas changes
- The National Business Review
The government changes to rules about overseas purchases of New Zealand land do not protect the country's long-term interests, Labour says.
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Stage set for veto of Crafar bid
- NZ Herald
Where to now for Natural Dairy Holdings, the Hong Kong company seeking Overseas Investment Office approval to buy the Crafar family farms?
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Investment rules full of holes: critics
- NZ Herald
Government's plan for rule changes on the sale of large tracts of farmland to foreign investors is too vague, too weak, and prone to poitical pressure,
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Editorial: No place for xenephobia or self-interest
- NZ Herald
According to the Finance Minister, overseas investment regulations to be introduced in December will "provide extra clarity and certainty for potential investors". More likely it will produce doubt and confusion.
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Veto powers for foreign investment
- John Hartevelt - Stuff
Labour leader Phil Goff has slammed the Government's plan to tighten foreign investment
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Overseas investment rules given 'extra flexibility'
- NZ Herald
The Government has decided against changes to the Overseas Investment Act but has introduced "extra flexibility"..
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Wang court files opened up
- The Marlborough Express
The Overseas Investment Office applied to search the court file on public interest grounds in relation to two applications to adjudicate Wang bankrupt and her proposed scheme of arrangement to creditors. It said the search related to its investigations into the farm bid by UBNZ Funds Management on behalf of Natural Dairy.
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Question for oral answer - Overseas Investment - Sale of Crafar Farms
- Hansard - New Zealand Parliament - 22 September 2010
Hon David Parker (Labour) to the Minister of Land Information: When does he expect to announce the decision on the sale of Crafar farms?
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Concern at land sales to foreigners is not xenephobic
- NZ Herald - Opinion by Sir Bruce Slane
Sir Bruce Slane responds to recent editorials in the NZ Herald
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OIO denies reports on Crafar bid
- TVNZ
The Overseas Investment Office has strongly denied a report in the Herald today that it will reject the Chinese-backed bid for the Crafar group of farms.
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Crafar bid reports denied
- Dominion Post
State-owned farmer Landcorp says it is in the dark about a report that it is in the running again to bid for the in-receivership Crafar farm estate.
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Chinese dairy farm bid hits snag
- NZ Herald
A Chinese bid to buy 20 New Zealand farms will be rejected or severely restricted after a review by the Overseas Investment Office, the Herald understands
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The backlash begins against the world landgrab
- The Telegraph (UK)
The neo-colonial rush for global farmland has gone exponential since the food scare of 2007-2008.
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MP insults us while failing to grasp our bond with land
- Deborah Coddington - Sunday Herald
"New Zealanders aren't racist, but they are emotional about the land and what's wrong with that? It's what defines us, sets us apart .."
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Burry, Predictor of Mortgage Collapse, Bets on Farmland, Gold
- Bloomberg
Top fund manager says "I believe that agricultural land - productive agricultural land with water on site - will be very valuable in the future"
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Overseas Investment - New Zealanders Concerns
- NZ Parliament - Oral question Hon david Parker
Transcript of oral questions from Hon David parker to the Prime Minister 8 September 2010
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Brian Rudman : An inconvenient truth needs to be faced
- Opinion - NZ Herald News
We find his interpretation we are racist as outragious, but we need debate on the issues and opinions expressed by readers of the opinion piece are all part of the necessary debate
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Natural Dairy shelves $1.5b expansion plan
- Business - NZ Herald News
Change in plans for Natural Dairy
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Minister's racism comments ill-timed 'humour'
- Dominion Post
Prime Minister John Key is downplaying comments from Land Information Minister Maurice Williamson
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Minister accuses Kiwis of racism
- Taranaki Daily News
Maurice Williamson says opposition to foreign investment is more about racism. He should note that that in the opinion poll associated with the article over 74% of readers disagree with him as do Save the Farms
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Panel discussion on foreign ownership TVNZ Q+A programme
- Scoop and TVNZ
Transcript of the Q+A panel discussion following interview, with Hon Bill English where he talks about foreign ownership of agricultural land
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Interview with Bill English on TVNZ's Q+A programme
- Scoop - TVNZ Q+A
Transcript of the Q+A interview of 29 August, with Hon Bill English where he talks about foreign ownership of agricultural land
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Foreign ownership and mining of farm land under renewed scrutiny
- The Farm Institute, Australia
Australia holds a Senate Inquiry, and action by the Queensland government to protect agricultural land
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Foreign friend or foe
- The Land - Farm on line, Australia
The same questions are being asked in Australia
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Foreign land sales we must learn from history
- NZ Herald
Tukoroirangi Morgan encourages a principled framework on which to base foreign investment policies.
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Farm Sales Stir Controversy
- TVNZ Close-up
Lead item Close-up 26 August. Followed by viewer feedback from 25,000 viewers whom 75% said Yes to "Should farm sales to overseas investors be banned?"
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Question in Parliament
- Hansard - Parliament House
Does Free Trade Agreement with China prevent tightening rules on foreign ownership
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PM says investment ad campaign goes too far
- TVNZ Business News
The Prime Minister thinks calls for a complete ban on selling land to foreigners is going a bit far and says we need some foreign investment.
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Save the farms
- TVNZ - Breakfast
Breakfast spoke to Bill Ralston, the spokesman for Natural Dairy (NZ) Holdings, about the sale of farms to foreign ownership. Also appearing was Tony Bouchier, spokesperson for ‘Save the Farms’
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New Zealanders try to save the farm
- ABC Network, Australia
Now to the controversy in New Zealand over the sale of agricultural land to foreign investors. Today this issue became a political campaign issue with a group calling itself "Save the Farm" launching an advertising blitz.
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Opinion: Why ‘Save our farms’ is a myopic and xenophobic campaign that needs debating
- From Blog site of Bernard Hickey
There is always more than one view in a discussion. Bernard Hickey presents an opinion piece with the view to promoting a discussion.
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Risk Kiwis could be 'tenants in their own land'
- Stuff.co.nz
Prime Minister John Key says he is concerned New Zealanders could become 'tenants in their own land'...
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How much NZ land is in foreign ownership unknown
- Yahoo!Xtra News
The Government doesn’t actually know how much New Zealand land is in foreign ownership, ...
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Most Kiwis want foreign investment rules tightened
- 3 News
Voters have sent a clear message in a special 3 News Reid Research poll: don’t let overseas investors buy Kiwi land - especially farms.
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Foreign farm sales average 82ha a day
- Stuff.co.nz
An average of 82 hectares of agricultural land a day has been approved for sale to overseas investors
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