SpeechMARK PATTERSON (NZ First): I rise to offer the strongest possible support that New Zealand First could give to this Overseas Investment (Urgent Measures) Amendment Bill. This is core New Zealand First principle—New Zealand ownership and the importance of that. As many people know I did have a background in the National Party. The one major philosophical difference that I do have is on this issue. The National Party would sell their grandmother for a 10c premium rather than look after the long-term interests of the New Zealand economy.This is a long game. We need to own our value chains and our supply chains. The one example that I can give the Silver Fern Farms example—it's the thing that got me into politics: the exasperation of seeing the National Government stand aside and seeing our biggest meat exporter a $2 billion - plus-a-year company fall into the hands of a foreign Government. It was appalling—and just the absolute lack of interest in that and the lack of a long-term strategic nous. When we rebuild this economy and particularly looking to our primary sector now as never before those are the companies that we look to and some of those companies are now in foreign control. In the specific example of Silver Fern Farms what would be stopping them now directing their board to say We're in a COVID-19 global pandemic. We need the food. You are sending the food to China." instead of the board having the discretion to market around the world? That is what happens when you lose control. It hasn't thus far in that company's defence but that is what we're opening ourselves up for. It's very short-sighted to send those incredibly important supply chains into foreign ownership and we are completely vulnerable to that now. That is why we absolutely support Minister Parker dropping the $1 threshold in terms of what needs to be run over the ruler of the national interest test. There will be some distressed sales out of this and it is important that the Government has some levers. That's why the Australian coalition Government that the Opposition would see themselves aligned for has moved in front of us in doing this. They see the wisdom in that. They've seen many of their key industries go into foreign ownership. They have moved and we are too and not before time.I do take into account that it has been a process that has been truncated but because of these extraordinary circumstances. It is part of a wider reform that Minister Parker has been working on for some time and is due to come back before the House in a more comprehensive manner very shortly. So it is an interim measure but it is an important and imperative measure at this time that we do not lose control of our key industries.I'll give you an example: the forestry industry on which Minister Jones is now looking to bring legislation before the House. The reason he's having to do that is because 80 percent of the forests are now foreign owned. They're heading off out of that port and ports around New Zealand in raw form. We have no levers actually to be able to add value to that raw material within New Zealand for the benefit of the New Zealand economy because we have lost total control of that industry. We cannot allow ourselves to go down to that path with other key industries. Imagine if Fonterra got taken over—80 percent of our whole dairy industry got taken over by foreign interests. We would be as John Key said peasants in our own country having given up the control of the means to fund our own future.So New Zealand First is absolutely behind this bill and will support it to the House. Thank you."