Foreign Investment: Treasury - Less Control On Foreign Investment
June 11th, 2010
Treasury Secretary John Whitehead says the Government could be receptive to lowering investment screening thresholds for foreigners looking to buy assets in NZ. The Treasury’s top man has been talking about policies which might benefit the economy. On TV One’s Q&A programme he said there’s plenty to be gained from “open flows of people, open flows of ideas, open flows of investment.” He says it can actually help the economy, and can help boost living standards. We do need protections but, fundamentally, overseas investment is beneficial.
Whitehead says Treasury’s views on easier access for overseas buyers apply to all but the “most sensitive” items. The Overseas Investment Act is being reviewed and he says he expects the Govt to eventually come out with a policy unlikely to make changes to the degree the Treasury would like, but will take into account some of the potential benefits of overseas investment.
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