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Govt dismisses OIO criticism over Taranaki farm sale

Author
Felix Marwick,
Publish Date
Wed, 4 May 2016, 5:57AM
Primary Industries Minister Nathan Guy. Photo / File.
Primary Industries Minister Nathan Guy. Photo / File.

Govt dismisses OIO criticism over Taranaki farm sale

Author
Felix Marwick,
Publish Date
Wed, 4 May 2016, 5:57AM

UPDATED: 3.25PM The Government is hitting back at opposition criticism of the Overseas Investment Office.

Labour MP David Cunliffe has savaged the agency as it reviews an approval given to the purchase of a north Taranaki farming station by two Argentinian businessmen back in 2014.

SEE ALSO: Sale of Taranaki farm leaves Govt fuming

Mr Cunliffe is accusing the OIO of rubber-stamping applications without doing proper due diligence

But Primary Industries Minister Nathan Guy said Mr Cunliffe is glossing over history and ignoring Labour's record on land sales to foreigners when it was in office.

"Last time I had a look at a time frame level proportionality, they'd sold about as twice as many as the national Government had sold. He's got short-term memory loss. He's forgotten all that."

Mr Cunliffe said the watchdog of the sale of iconic primary sector land is not doing its job.

"It is taking investors word for it and they can not even, by their own admission, do a simple Google search to find out if somebody is who and what they say they are. Can't do a Google search."

The Government is describing the mistakes as an isolated incident.

Land Information Minister Louise Upston said she's waiting for the outcome of the review before offering any view as to whether problems at the Overseas Investment Office may be broader.

"My understanding at this stage is it's a one off. One case, where one individual dropped the ball."

John Key said the office can do better.

"The office needs to have a better way, in our view, of making sure those who make undertakings that they'll put in a walkway, or whatever it might be, actually fulfill those commitments, and secondly, we want them to process things a bit more quickly."

Mr Cunliffe said one of the directors of the company is implicated in the Panama Papers.

"With a large scale scandal involving the possible non-payment of tax, in relation to the football sector in Europe, to the tune of tens of millions of dollars."

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