Latest news with #fasttrack
RNZ News
2 days ago
- Business
- RNZ News
Why has a bill to relax foreign investment rules had so little scrutiny?
By Jane Kelsey* of Photo: RNZ Analysis : While public attention has been focused on the domestic fast-track consenting process for infrastructure and mining, Associate Minister of Finance David Seymour has been pushing through another fast-track process - this time for foreign investment in New Zealand. But it has had almost no public scrutiny. If the Overseas Investment (National Interest Test and Other Matters) Amendment Bill becomes law, it could have far-reaching consequences. Public submissions on the bill close on 23 July. A product of the ACT-National coalition agreement , the bill commits to amend the Overseas Investment Act 2005 "to limit ministerial decision making to national security concerns and make such decision making more timely". There are valid concerns that piecemeal reforms to the current act have made it complex and unwieldy. But the new bill is equally convoluted and would significantly reduce effective scrutiny of foreign investments - especially in forestry. Step one of a three-step process set out in the bill gives the regulator - the Overseas Investment Office which sits within Land Information NZ - 15 days to decide whether a proposed investment would be a risk to New Zealand's "national interest". If they don't perceive a risk, or that initial assessment is not completed in time, the application is automatically approved. Transactions involving fisheries quotas and various land categories, or any other applications the regulator identifies, will require a "national interest" assessment under stage two. These would be assessed against a "ministerial letter" that sets out the government's general policy and preferred approach to conducting the assessment, including any conditions on approvals. Other mandatory factors to be considered in the second stage include the act's new "purpose" to increase economic opportunity through "timely consent" of less sensitive investments. The new test would allow scrutiny of the character and capability of the investor to be omitted altogether. If the regulator considers the national interest test is not met, or the transaction is "contrary to the national interest", the minister of finance then makes a decision based on their assessment of those factors. Seymour has blamed the current screening regime for low volumes of foreign investment. But Treasury's 2024 regulatory impact statement on the proposed changes to international investment screening acknowledges many other factors that influence investor decisions. Moreover, the Treasury statement acknowledges public views that foreign investment rules should "manage a wide range of risks" and "that there is inherent non-economic value in retaining domestic ownership of certain assets". Treasury officials also recognised a range of other public concerns, including profits going offshore, loss of jobs, and foreign control of iconic businesses. The regulatory impact statement did not cover these factors because it was required to consider only the coalition commitment. The Treasury panel reported "notable limitations" on the bill's quality assurance process. A fuller review was "infeasible" because it could not be completed in the time required, and would be broader than necessary to meet the coalition commitment to amend the act in the prescribed way. The requirement to implement the bill in this parliamentary term meant the options officials could consider, even within the scope of the coalition agreement, were further limited. Time constraints meant "users and key stakeholders have not been consulted", according to the Treasury statement. Environmental and other risks would have to be managed through other regulations. There is no reference to te Tiriti o Waitangi or mana whenua engagement. While the bill largely retains a version of the current screening regime for residential and farm land, it removes existing forestry activities from that definition (but not new forestry on non-forest land). It also removes extraction of water for bottling, or other bulk extraction for human consumption, from special vetting. Where sensitive land (such as islands, coastal areas, conservation and wahi tapu land) is not residential or farm land, it would be removed from special screening rules currently applied for land. Repeal of the " special forestry test " - which in practice has seen most applications approved , albeit with conditions - means most forestry investments could be fast-tracked. There would no longer be a need to consider investors' track records or apply a "benefit to New Zealand" test. Regulators may or may not be empowered to impose conditions such as replanting or cleaning up slash. The official documents don't explain the rationale for this. But it looks like a win for Regional Development Minister Shane Jones, and was perhaps the price of NZ First's support. It has potentially serious implications for forestry communities affected by climate-related disasters , however. Further weakening scrutiny and investment conditions risks intensifying the already devastating impacts of international forestry companies. Taxpayers and ratepayers pick up the costs while the companies can minimise their taxes and send profits offshore. Finally, these changes could be locked in through New Zealand's free trade agreements. Several such agreements say New Zealand's investment regime cannot become more restrictive than the 2005 act and its regulations. A " ratchet clause " would lock in any further liberalisation through this bill, from which there is no going back. However, another annex in those free trade agreements could be interpreted as allowing some flexibility to alter the screening rules and criteria in the future. None of the official documents address this crucial question. As an academic expert in this area I am uncertain about the risk. But the lack of clarity underlines the problems exemplified in this bill. It is another example of coalition agreements bypassing democratic scrutiny and informed decision making. More public debate and broad analysis is needed on the bill and its implications. *Jane Kelsey, Emeritus Professor of Law, University of Auckland, Waipapa Taumata Rau This story was originally published on The Conversation.
CTV News
3 days ago
- Health
- CTV News
This 19-year-old got into all 7 of her med school choices. Her motto is to ‘do it afraid'
Ore Maxwell, 19, interviewed for seven med schools after fast tracking her bachelor' s degree. She was accepted to every single program. July 16, 2025. (CTV News Edmonton) Zipping through high school, undergrad and then med school is not for everyone. That's why Ore Maxwell, at just 19 years old, credits her family for their diligent support as she did just that. Now that she's been accepted into all seven medical schools she interviewed for, she wants to remind everyone to 'do it afraid.' 'That's something that my mom often told me,' she said. Maxwell graduated with her Bachelor of Health Sciences from Queen's University (with distinction, of course) three weeks ago. She's now immersed in medical school at the University of Calgary. That wasn't her only option available, though. In fact, she was also accepted to medical programs at the University of Toronto, McMaster University, Western University, University of Alberta, University of British Columbia and Dalhousie University in Nova Scotia. She managed to fast track her bachelor's degree too, completing it in three years instead of the traditional four. 'I really enjoyed the three-year program … I think when you have that continuity of things to me, I find that to be helpful for my style of learning,' she said. If you're keeping up with the math, Maxwell graduated high school at 16 and started university a few months later, right after she turned 17. 'Paying it forward' Between graduation and medical school, though, Maxwell still found time to make it to the Calgary Stampede with friends. 'I'm really big on paying it forward … over time, when you live in a way that you have people that help you so much, it makes you want to give back,' she said. Maxwell noted that the strong foundation of love and empathy she received from her parents and siblings were what paved a 'smooth' road, even in the most stressful moments of the application process. Maxwell was born and raised in Grande Prairie, Alta., and said she sees the 'benefit and the beauty' of both urban and rural spaces throughout her medical studies. Choosing U of C allowed her to stay in a city she loves while being taught a curriculum she said is 'holistic and comprehensive and unique.' 'Everything kind of fell into place, I think. So I'm really happy with [my] decision,' she said. She said she still hasn't chosen an exact field of medicine, but is excited to explore her options. Between founding a group that supports pediatric cancer patients during her undergrad and working or volunteering as everything from a mentor to a policy co-ordinator, Maxwell's always been busy. But she wants prospective students to know that her success required 'dedication' and 'diligence' – which she firmly believes anybody can achieve, although it is 'easier said than done.' When all else fails, she remembers the words her mother always told her. 'If you're scared about something, do it then, because that's when your emotions are the most heightened and when that sense of drive will be the most strong and passionate,' Maxwell said. 'It's OK to be scared and to be uncertain.'
CBC
5 days ago
- Politics
- CBC
Prime minister, national chief open First Nations summit
Prime Minister Mark Carney and Assembly of First Nations National Chief Cindy Woodhouse Nepinak make opening remarks at a summit in Gatineau, Que. about the government's new law to fast-track major projects.
Irish Times
14-07-2025
- Business
- Irish Times
New laws aimed at fast-tracking apartment size changes could result in High Court challenges, lawyers warn
Proposed planning law changes introducing a fast-track process to apply new apartment size guidelines to already approved units could lead to a raft of High Court challenges, legal sources have warned. The planned amendments to the Planning and Development Bill 2025 would allow developers who have already secured planning permission to build smaller and more apartments in the same scheme without submitting a fresh planning application. Instead they could apply for a 'permitted modification', which the relevant planning authority must determine within eight weeks. Minister for Housing James Browne last Tuesday issued the new apartment guidelines, which allow developers to build smaller apartments in a greater density. The guidelines reduce the minimum size of a studio apartment from 37 sq m to 32 sq m. They also do away with restrictions on the specific mix of units within a development. The move is aimed at closing a viability gap between the cost of building apartments and their achievable sale price. READ MORE There was a fear this change to standards would result in further delays to building, as developers would have to resubmit planning applications to benefit from them. There are about 57,000 apartments proposed for Dublin for which construction has not yet started, the Department of Housing said last week. In an effort to address these concerns over delay, the department has proposed amending the Planning Act to allow developers to incorporate changes to their scheme without making a fresh application. This amendment, seen by The Irish Times, will go to the Seanad for approval on Tuesday, before going back to the Dáil on Wednesday. Part 44B of the Planning and Development (Amendment) Bill 2025 outlines how a developer with planning permission could modify their permission in line with the new apartment standard guidelines. They could apply to the original planning authority, either the local council or An Coimisiún Pleanála , for a 'permitted modification' by providing revised drawings. The planning authority must approve the revisions within eight weeks of receiving them. The change cannot be granted as a permitted modification if the development has already commenced, if an environmental impact assessment is required, or if the changes would result in the number of dwellings in a strategic development zone exceeding the number permitted by a planning scheme. The Bill says any decision made under this amendment cannot be appealed to An Coimisiún Pleanála. However, one legal source said the legislation is flawed and potentially unconstitutional due to the lack of public consultation on what could be a significant change to a developer's building plan. Any 'permitted modification' decision could be challenged in the High Court by way of judicial review, sources said. Another planning lawyer said the new guidelines for apartment standards are quite modest in what they are trying to achieve and because of this the amended legislation came as no surprise. However, they also said that if an existing planning permission had previously been the subject of a judicial review, it is unlikely a developer will seek to amend their current permission by way of this 'permitted alteration' clause because it would open them up to the possibility of another unwanted legal action. The Social Democrats' housing spokesman Rory Hearne TD said he is 'deeply cynical' of the changes to the Bill. He claimed they point to a Government 'ramming through amendments' to the Act, 'giving no time for detailed discussion or analysis of changes that will have profoundly negative impacts on housing for decades to come'. 'These changes are another example of the Government sacrificing younger generations to the investor funds and developers who are clearly the priority interests for the Government,' the deputy said. 'We will be vigorously opposing these changes being bulldozed through the Dáil and Seanad this week,' he said.
RNZ News
03-07-2025
- Business
- RNZ News
MP Maureen Pugh pitches one-stop-shop for mining consents
MP Maureen Pugh wants a local fast-track system to speed up consent processing times. Photo: RNZ / Samuel Rillstone West Coast Tasman MP Maureen Pugh has weighed into the campaign to improve waiting times for miners needing resource consents and other permits. Pugh has suggested a local "mini-version" of the government's fast-track system to speed up consent processing times. Resources Minister Shane Jones gave the West Coast Regional Council a strong serve last week, after it closed down a gold mine site that had waited 17-months for a consent. The council also faced criticised from Cr Brett Cummings, a gold miner himself, whose company had been left waiting six months for consent. Pugh says the Minister is justifiably frustrated at the holdups. "This has been going on for far too long. There are guys that have their mining permits and they're paying up to $20,000 a year to NZ Petroleum and Minerals for the right to mine but they can't even get onto the land because the council hasn't sorted their resource consent or DOC hasn't processed their concession." By comparison, a large-scale miner she knew was able to gain approval to mine in New South Wales in Australia within six weeks, she said. "He's got another one in New Guinea - that took twelve weeks," she said. "[He has] one application active in New Zealand and he's been waiting for two years and he still doesn't know how it's going to go. "The delays are not new but they've just got worse and worse, at a time when we desperately need to grow the economy. It's not how to do business well." In her former career as Westland mayor, Mrs Pugh said she had tried to speed up the bureaucracy by delegating district council land-use consents to the Regional Council to process. "I believe that what we need now is a local fast-track system. A mini-version of the government's one-stop-shop, with one office in the region where every agency involved in a mining application is co-located, and has a staffer. All of these permits should be happening concurrently." Pugh said she had proposed her idea to the Minister (Shane Jones) and he was interested in progressing it. "We've simply got to find a new way of doing this and we can't go on having consultants in the North Island dealing with alluvial goldmining consents down here. "They know nothing about the West Coast so of course they're risk averse about everything and their reports reflect that, and there's the constant for further information and they keep sending applications back and asking for more information, and every time their meters are ticking." The miners' continual outgoings were simply paying the wages of bureaucrats and not generating revenue, Pugh said. "It should all be happening concurrently - as it is you're paying to hold your mining license just in case you can overcome all the other. It's enough to make you tear your hair out." The Regional Council is looking at taking on more consents staff and this week began work on new resource consent templates which it says will simplify and speed up the process for alluvial gold miners. LDR is local body journalism co-funded by RNZ and NZ On Air.
