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?
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