Labour: Govt opening door to foreign buyers

• Published date: 18 April 2024
• Publication title: Northern Advocate, The (Whangarei, New Zealand)

Normally, the ministers for land information and finance give the final tick of approval for any land sales through the Overseas Investment Office, including the sale of farmland for conversion to forestry

But the Government is delegating those powers to Land Information New Zealand (Linz).

Minister for Land Information Chris Penk said the move would speed up the application process and reduce uncertainty for investors.

“These changes will help encourage overseas investment, which is an important part of the Government’s plan to rebuild the economy so we can provide the public services that Kiwis deserve.

“Linz already make most decisions on applications, there have been no changes to the investment criteria and ministers will still have visibility of applications as they come through.”

Penk said ministers would still make decisions related to national security assessments and retain the ability to decide applications of particular public importance.

But Labour Party land information spokesman Damien O’Connor said the...