Investment in N.Z. from abroad
Sir,—One wonders if the Government has adequately considered the possible consequences of its willingness to sell “109 per cent” of New Zealand assets, except land, to foreigners. A Government spokesman has said it will cause “a property boom.” That, of course, is another name for more inflation. A set of conditions that would be very favourable to foreign financial speculators would be high inflation within New Zealand combined with a fairly stable exchange rate. This would enable foreigners to make large capital as well as ongoing investment gains. The disturbing thing is that uncontrolled foreign investment could help to create both these conditions. In the interests of controlling inflation as well as reducing the danger of foreign manipulation, the Government should require all rent increases on shops and offices to be justified before being approved.— Yours, etc., MARK D. SADLER. July 22, 1985.
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Press, 25 July 1985, Page 12
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148Investment in N.Z. from abroad Press, 25 July 1985, Page 12
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