Source: New Zealand Parliament
Dr LAWRENCE XU-NAN (Green): Thank you, Madam Chair. We understand what the purpose is, because we had a discussion about this last night. But just following on from the previous speaker, the Hon Damien O’Connor, who was the previous trade Minister—and he captured it quite nicely—we already have a number of one-stop shop agencies for this. What is unique about this particular one?
I want to go on to the commencement date first, which is 1 July 2025. I want to check with the Minister, the Hon Tama Potaka: we’ve heard from the Minister previously on some of the work that is being done, potentially, in the background. But I think what we haven’t heard, succinctly, is a response to the question that was asked around the transition measures and whether they will be in time for 1 July, particularly from the perspective of collective agreements in terms of the Public Service perspective. So that’s my question in terms of the commencement date—whether 1 July is feasible or whether we should be looking at pushing the 1 July date out further.
But just now coming to the title of the bill, I know that we talk about “Invest New Zealand”, but what we’ve heard from the Minister—and, to be honest, every three questions that we ask, we get maybe one answer and the other two left unanswered; you know, we still haven’t heard exactly what was the advice given from the Ministry of Foreign Affairs and Trade, and we still haven’t really heard why the regulatory impact statement and the Budget had different amounts allocated to Invest New Zealand.
We are really curious as to whether “Invest New Zealand” is actually the best name for this, because there seems to be a half-heartedness when it comes to this particular bill and this particular agency, and there’s going to be a lot of confusion, and, to the Minister’s own words, “opaqueness”, when it comes to the way that agencies can be set up. Fundamentally, when we’re looking at the title of this bill, I wonder if the Minister in the chair would consider, from all of the things we’ve discussed, the lack of reassurance we have received from the Minister that this is indeed something that is going to be good for New Zealanders and for New Zealand in general. We’ve heard things and we’ve heard more concerns and more questions than actual responses, and the previous speaker, the Hon Damien O’Connor, mentioned that this is essentially going to be a real estate agency that’s going to sell off New Zealand one bit at a time.
So I wondered if a better title for this bill, rather than “Invest New Zealand”, would be “Divest New Zealand”, because that’s what, fundamentally, the concerns around this agency are going to be. We are actually no longer supporting New Zealand entrepreneurship and also innovation, but, instead, we expect overseas companies, carte-blanche, without any sort of precautions and provisions—we didn’t hear anything around how they’re going to ensure, from a procedural perspective, from an operational perspective, that there is not going to be any sort of anti-competitive measures, anti – money-laundering measures, or any of those things. Yes, I admit that they’re part of domestic legislation, but the fact is that just because the law is in place does not mean that the agency is well equipped to ensure that they are followed.
So I personally think that “Divest New Zealand” is a better term for us to use. But other ones—to be fair, if the Minister thinks that “Divest New Zealand” is a bit too on the nose and too similar to “Invest New Zealand”, we can look, I think, at changing the title to “Country for Sale”, because that seems kind of appropriate as well, or even just “Selling New Zealand Out”.
I think the other appropriate title, when we’re looking at the title of this—again, although we do see in the departmental report some of the advice that the Ministry of Business, Innovation and Employment has undertaken in terms of our Te Tiriti obligations, we’re still not entirely convinced, particularly in light of some of our trade agreements but also in light of some of the current trajectory that the Government is going in. I think if we really want to signal to the world that we are a country that upholds indigenous rights, “Invest Aotearoa” would be a more appropriate title.
So I would like to hear from the Minister as to whether he would consider any of those titles and the change to the commencement date.
