Government plays ducks and drakes with airport sale veto

Investors have received a clear signal they can’t trust the Government to stay out of their business, says Business NZ, following the Government’s decision to veto the Canadian bid for Auckland International Airport.

Chief executive Phil O’Reilly says rule changes by the Government, late in the piece, had impacted investor confidence.

“Just because of loud shouting by some, the Government has decided to play ducks and drakes – not only with international investors acting in good faith, but also with the retirement nest eggs of many New Zealanders and that should not be acceptable.”

Mr O’Reilly says the Government has indicated there is a group of strategic assets that could be treated in the same way if they were ever for sale to a foreign investor.

“If this is the case then the Government should tell New Zealanders what they are, so that investors know the conditions under which they are investing.

“We hope the Government will seize this opportunity for a much needed debate about foreign ownership in New Zealand.”