David Cunliffe was on Newstalk ZB this evening arguing not for officials to veto overseas investment (such as the Overseas Investment Office), but rather, that power should be given directly to Ministers.
Labour actually believes that politicians in New Zealand should actively intervene in our capital markets. This is music to the ears of Red Russell and Red Winston, but should scare the shit out of the rest of us.
Imagine being a shareholder in Fisher & Paykel (or any other listed company for that matter) and being told by a politician you cannot sell your shares because she thinks it is not in the country's interest for you to do so.
I don't often swear on the internet, but that's fucking disgraceful. We can kiss goodbye to capital investment in this country if that is ever introduced. And if that happens, then say hello to 20% unemployment.
Next they'll be telling us that if you do sell, there will be a comprehensive capital gains tax on the profit.
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