Harvard buys Otago dairy farm

Last updated 10:01 03/05/2013
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New Zealand First leader Winston Peters has criticised the Overseas Investment Office for allowing Harvard University to buy a big dairy farm in Otago.

The office, which assesses applications from overseas people wanting to invest in sensitive New Zealand assets, has cleared Dairy Farms Partnership, an investment company owned by the ivy league university, to buy a 1300 hectare farm in the Maniototo district near two dairy farms it already owns.

Peters said valuable land producing New Zealand's most valuable commodity was being sold out from under the feet of New Zealanders.

"How can we survive if our good land is taken away from us?"

Peters said the law on New Zealand land ownership and the functions of the OIO were working against New Zealand's long term economic and social interest.

"Every day we lose something else to overseas ownership and one day there will be nothing left for New Zealanders."

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- © Fairfax NZ News

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