Under National over one million hectares of land has been approved for overseas sale – 16 times the size of Lake Taupō or the equivalent of five hundred rugby fields a day, Labour’s Finance spokesperson David Parker says.
“According to the Overseas Investment Office’s records, 1,002,591 hectares of land (10,000 square km) has been approved for sale to wholly and partially controlled overseas interests since John Key took office.
“Half of these land sale approvals (497,842 ha) occurred since John Key promised a ‘crack down’ on the sale of sensitive land to overseas interests.
“We know now that this ‘crack down’ was nothing but a crock. At the same time Bill English was sending a tricky side letter to the OIO defining ‘large’ farms as ten times the size of an average farm, a definition so big as to be meaningless.