National’s Nelson MP, Nick Smith is a major worry. His latest idiocy is his Overseas Investment (Queen’s Chain Extension) Amendment Bill, currently before a select committee.
According to today’s Press, Smith’s bill proposes that “when a foreigner tries to buy land that includes ocean, lake or river frontages, it should be possible to force the formation of an esplanade reserve for public purposes as a condition of sale.”
Federated Farmers, the Law Society and Carter Holt Harvey all oppose the bill on the grounds that eroding property rights for foreigners will set a precedent for eroding NZers property rights.
They’ve also argued that such a move will lower property values.
They’re quite right, but don’t foreigners also have property rights? Aren’t foreigners buying land in NZ entitled to the same rights as citizens?
If we want foreign investment in this country (I do) our top priority should be abolishing all laws (Nick Smith’s daft bill, the RMA etc) that in anyway impinge on anybody’s property rights