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National’s Trade Spokesperson Todd McClay says Labour needs to be clear how many trade deals it would be prepared to renegotiate in pursuit of its political point to ban foreign house buyers, following revelations yesterday it would renegotiate the Korean FTA.

“There are identical issues around Labour’s policy with our trade deal with Taiwan as there is with the Korean FTA,” Mr McClay says.

“Labour would need to renegotiate the lucrative Taiwan trade deal to implement their rushed housing ban, along with the Korean FTA.

"The Taiwan deal is worth more than $1.2 billion to our economy each year. Exports to Taiwan have increased by around 25 per cent since 2013 when the deal entered into force. This growth has created thousands of jobs for Kiwis.

“Yesterday it was Korea, today it would be Taiwan - that's two important trade deals Labour would have to renegotiate to make their political point – that is simply naive.

"Labour is being reckless with trade and jobs. Their risky announcement will concern businesses who rely on the certainty and opportunity these trade deals provide. It will concern New Zealanders whose jobs rely on the trade access we've successfully negotiated with countries like Taiwan and Korea.

“Labour already wants to tax New Zealanders out of business. Now it wants to renegotiate them out of business too.

"New Zealanders deserve answers before they cast their vote. Labour needs to explain why we need all these big changes in economic policy when even they agree the New Zealand economy is performing well."

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