CAFCA Press Statements

2009

IRD Delivers Best Possible Xmas Present To Long Suffering Kiwi Taxpayers

There really is a Santa Claus. And he has been revealed to be the most unlikely of people, namely the Commissioner of Inland Revenue. Just in time for Christmas IRD has persuaded the Big Four Australian-owned banks – ANZ, ASB, BNZ, and Westpac – to recognise the futility of attempting to dodge payment of the astonishing $2.2 billion of taxes that, between them, they avoided via deliberately complicated structured financial transactions. (24 December 2009)

US Free Trade Agreement: Learn From Sad Experience Of US’ “Chief Ally”

New Zealanders who kid themselves that “we” stand to gain from a Free Trade Agreement with the US would be wise to reflect on the rueful words of Sir Christopher Meyer, Britain’s Ambassador to the US in the runup to the US/UK invasion of Iraq. Speaking to the current public Inquiry into Britain’s part in that invasion and war: “Meyer expressed frustration that Britain was unable to gain much diplomatic leverage from its position as the US’ chief ally. Britain failed to persuade the US to liberalise trans-Atlantic air travel and, almost on the day when British commandoes joined the fighting in Afghanistan, the US imposed tariffs on imports of specialised British steel” (Press, 28/11/09). If this is the way that the US treats its “chief ally” when it comes to protecting its own trade and economic interests, how do you think little old NZ will get on? (4 December 2009)

US Free Trade Agreement a Poisoned Chalice for NZ

A US/NZ Free Trade Agreement would be catastrophic for any remaining economic sovereignty that New Zealand has. (16 November 2009)

Overseas Investment Office ignored CAFCA’s warning about Cedenco’s US owner

The Overseas Investment Office can’t say that it wasn’t warned about the problems in the US arising from the bribery allegations against SK Foods. (10 November 2009)

Earlier comment on the 2009-10 Review of the Overseas Investment Act

Hugely increased “oversight” threshold for Aussie investors will become benchmark for all others (24 August 2009)
Flogging off state assets does nothing to help NZ’s foreign debt problem (23 April 2009)
OECD prescription is the problem, not the solution (17 April 2009)
Liberalising foreign investment law yet again exposes government’s desperate cargo cult mentality (26 March 2009)

CAFCA – Press Statements 2009