Brownlee Gerry: Overseas Investment Bill — Second Reading Instruction to Committee In Committee Third Reading 
Brownlee Gerry: Overseas Investment Bill — Second Reading Instruction to Committee In Committee Third Reading 
[Volume:626;Page:21572] 
GERRY BROWNLEE (Deputy Leader—National) 
: 
 I want to take a brief call to rebut some of the nonsense New Zealand First decided to inject into the debate and in particular its criticism of the National Party. We know that New Zealand First is one of this Parliament’s parasites— 
Dail Jones 
: I raise a point of order Mr Chairperson. A member cannot call another member a parasite surely. 
The CHAIRPERSON (Hon Clem Simich) 
: Not even a party no. 
Dail Jones 
: Thank you. I ask the member to withdraw and apologise. 
GERRY BROWNLEE 
: I withdraw and apologise. Some will notice the parasitic behaviour of New Zealand First in the constant comments of its members about the National Party. Although I use the term “parasitic” one may say also that that behaviour is somewhat symbiotic because without the National Party there would be no New Zealand First. It is quite galling to find the New Zealand First politicians— 
The CHAIRPERSON (Hon Clem Simich) 
: Order! 
GERRY BROWNLEE 
: I was just coming to the bill. If I had not been disturbed by the point of order I would have been in only my first minute or so of rebutting the issue at hand: the misrepresentation New Zealand First chooses to put on National’s support for this bill. 
Although we have reservations about the bill in essence we recognise that facilitating overseas investment in a country like this is important. That does not mean selling everything off I say to Mr Jones. It does not mean entering into the sorts of shonky lease-type arrangements that the Government has entered into over the Transpower assets. 
Pansy Wong 
: What is that about? 
GERRY BROWNLEE 
: Members ask what that is all about. We would all like to know what it is all about. It would be helpful to Parliament if Dr Michael Cullen were to come down here and explain exactly how it is that this Government which is so committed to keeping State assets in the hands of the State has allowed such a transparently shonky deal to be put together. It is transparently shonky but is not transparent as a deal. Although we know that the assets are now in someone else’s hands and that the various parties in this Parliament who support the Labour Party have allowed that type of investment we do not know exactly the nature and structure of that deal. 
Brian Connell 
: Why don’t we know? 
GERRY BROWNLEE 
: Dr Cullen will not tell us. I have to surmise that that is probably because Dr Cullen himself does not know what has been done under his nose. Dr Cullen himself probably does not know what has been slipped into the pile of papers on his desk and what he himself has signed off on or exactly how much the New Zealand tax base has been rorted as a result of that particular transaction. 
Brian Connell 
: What did Treasury say? 
GERRY BROWNLEE 
: It would not matter what Treasury said because the Labour Government simply rubbishes everything that comes out of Treasury. It does not treat Treasury at all seriously. 
One of the most interesting points in this bill is the matter of the investor tests. It is good to see that we are making sure that those who choose to invest in this country are well qualified to do so and that locals will not pay the price for their inability to get together the capital they need. I ask the New Zealand First members to tell us what is so wrong with having foreign investment in this country. Has there ever been a time in our post-1840 history when we have not been heavily reliant on foreign investment? There has probably never been such a time. Certainly the places of origin of the capital that is invested in this country have changed dramatically. There was a time when New Zealand was largely owned by British insurance companies and British banks. That of course has substantially changed. Many New Zealanders now through international share portfolios share in overseas investment in this country.