David Shearer has finally climbed off the fence on which he’s been perching since he became Labour leader and taken a position pm something.
But he’s gone to the wrong side.
But the government doesn’t own the farms.
They are private property on which large sums of money are owed and the receivers must do what they can to recoup as much from the sale as possible.
It would definitely not be in the national interest, nor in that of the creditors, to have political interference stymie a sale at a higher price in favour of one which would recoup around $40 million less.
Shearer wasn’t part of the Labour government which sabotaged shareholders’ value in Auckland Airport with the refusal to let a Canadian pension fund buy it but he ought to know about it the damage it did.
The Crafar farms have become a symbol but while a big holding for an individual person or company they are a very small percentage of New Zealand farmland, only about 1% of which is foreign-owned.
Kiwiblog points out a good deal more was sold by Labour:
Labour during their nine years in office approved the equivalent of the Crafar farms being sold to foreign owners every single month! Yes the Crafar farms are around 9,000 hectares and Labour approved 650,000 hectares – equal to 75 Crafar farms.
Shearer wasn’t part of those governments either, but what has changed that made those sales right and this one wrong? Nothing but an increase in xenophobia, emotion and political opportunism.
Prime Minister John Key says:
“The wholesale sale of land in New Zealand is not in New Zealand’s best interests, and that was why we sought to toughen up the overseas investment act,” he said. “At around about 1 percent, I don’t think we have a substantial issue.”
The Overseas Investment Office has strict criteria for approving land sales to foreigners.
If there is a need for that to be stricter it should be done properly and on principle.
Political interference which overrides the criteria for an individual case is not in the national interest, especially when there is no guarantee that the consortium which is the under-bidder would not then on-sell some or all of the farms; nor that some or all of the new purchasers wouldn’t be foreigners too.
Homepaddock 
An interesting glimpse of the socialist mind set albeit Camouflaged,
by ignorance of the MSM of the real world.
Shearer shows how little understanding he has of how the law treats loans, security, and forclosure allied to basic “property” rights.
Any guesses as to who carries the cost of the $40 million discount sought by Fay and his ignorant xenophobic supporters.
Of that 1% foreign owned land how much is Chicom held, remind me if someone can.
LikeLike
If the sale of the Crafar farms to the Chinese consortium goes ahead,will that be the first time NZ land has been sold to a communist country—-which surely is is enough of a worry in itsel?.
LikeLike
The would-be purchaser is a company not a country.
LikeLike
Ele– Surely even John Key could see that your comment is splitting hairs.
This quote by Andrew J in yesterdays interest.co.nz would seem to sum up the state of play in today’s world.
The Swedish Count Axel Oxenstierna was right when he wrote to his son in 1648: “An nescis, mi fili, quantilla prudentia mundus regatur?”
Transalation–
“Do you not know, my son, with how little wisdom the world is governed?”
LikeLike
Not only is China communist it also is not a place where NZers cannot buy land.. ie no reciprocal rights.
Personally I think we should have a system like the Swiss. Citizens only can buy farmland.Those who qualify as residents able to enter long term leases.
The other point is we must keep control of quality standards of food marketed as coming from NZ. That means removing any potential for food quality issues like the melamine scandal.
LikeLike
The discussion on whether or not only people from countries who let NZers buy their land should be able to buy ours is legitimate.
But we have rules now, which don’t take that into account, and they can’t be disregarded just because some people object to the country of origin of would-be buyers.
LikeLike
Would Michael Fay pass the same “Good Character” test that saw Mr Dotcom refused permission to buy a little bit of dirt?
JC
LikeLike