Before foreigners pass the buck, new investment law will require a quality check

The bill stopping foreigners from buying houses in NZ has emerged from select  committee study with   significant   amendments.  Associate  Finance  Minister  David Parker   says the  new law will ensure the  market  for homes  is a  “NZ  market  not  an international  one”.  He  contends  Kiwis  should not be outbid by  “wealthier  foreign buyers”.

But the same bill now includes a move to encourage  “foreign direct  investment”  in forestry.   Forestry Minister Shane Jones says the legislation –  by bringing forestry rights into the overseas investment regime – will help promote high-quality foreign investment  which puts more emphasis on genuine benefits for New Zealanders.

So – foreign money  for  NZ homes  is  dirty but  foreign money for  NZ  trees is clean? Continue reading “Before foreigners pass the buck, new investment law will require a quality check”