P.M. ready to ’sell out N.Z.’

Press, 24 May 1977, Page 10

P.M. ready to ’sell out N.Z.’

FA Wellington; Two opposition members of Parliament have accused the Prime Minister (Mr Muldoon) of being prepared to “sell New Zealand out” to power-; fut overseas companies. The Opposition spokesmen on agriculture (Mr B. G. Bare-1 lay) and consumer affairs (Mr! R O. Douglas) said that Mr Muldoon’s support for the take-over of the Gear Meat Works at Petone by the rverseas-owned company. Borthwick’s was "incredible?’ It was essentia! for the economic future of the country that industries involved in primary produce were controlled by New Zealanders. This was the only way in which New Zealand farmers,, consumers, and trading interests would be served. Overseas companies made deci-1 sions only in the interests of! their shareholders. “This takeover bid is even more dangerous in that it, will involve a near-monolopv situation in the lower North Island.” said Messrs Barclay and Douglas.

“It is ludicrous for a nation I so dependent on overseas i funds earned by primary; produce to put farmers in a situation where they have no competitive outlets for their! stock.” I Messrs Barclay and Douglas said that Mr Muldoon had been reported as saying that British ownership in the meat industry was invaluable because of the influence that the companies could exert on the British Government. “He is saying that unless New Zealand is prepared to remain in a colonial relationship with powerful commercial interests, there will be no hope of continuing access to traditional markets,” they said. “The Labour Party and, we believe, the vast majority of New Zealanders, totally reject this. Our future lies in i controlling our own industries and in fighting and selling in every market we can find. “We will never achieve anything if. like the Prime Minister, we encourage ex- ■ ploitation and control by overseas interests.”