Labour wants more power to meddle

Labour finance spokesman David Cunliffe wants to give politicians the power to meddle in commercial decisions:

“The threat of an overseas takeover of Fisher and Paykel is now very real and the likelihood of excellent skilled jobs going overseas is worryingly high. 

“Fisher and Paykel is a Kiwi innovation icon. It is the sort of company we need more of in New Zealand, not less. But National is just waving it goodbye.

“The implications of its sale to New Zealand are too important leave the takeover approval to officials. Such a major decision must be made by Ministers. That’s Labour’s policy.

If that’s Labour’s policy Heaven help the share market when they get back in government.

Who’d want to risk their money in the share market when they know that politicians could devalue their shares at whim?


4 Responses to Labour wants more power to meddle

  1. pdm says:

    mrspdm mentioned during the week that the Dairy round the corner from us is now run by Indians who presumably own it.

    Don’t tell Cunliffe!!


  2. Paul Walker says:

    I’ve had a bit of a rant on this one myself. Labour’s economic thinking is awful at times.


  3. inventory2 says:

    So you have to get a Minister’s permission to sell something that you paid for yourself and own; how very Soviet… 😛


  4. jeremy laurenson says:

    Well haven’t we already seen Labour in action – blocking the partial sale of Auckland Airport and the disgraceful swathe in the value of Telecom? I think that we (the property right believers) should just get off the grass…. Labour can pick winners and has no compunction about doing so.


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