United wants Super Fund invested in NZ

Labour’s Parliamentary partner United Future wants to see more of the New Zealand Superannuation Fund (aka the Big Cullen Fund) invested in New Zealand businesses.

Untied Future’s finance spokesman Gordon Copeland (pictured) has asked the Minister of Finance, Michael Cullen, whether it would be possible to use some of the money from the fund to buy minority stakes in on-shore investments, such as wood processing businesses.

He says that if an overseas investor is willing to put money into a venture then the New Zealand government could also put money in too.

"It’s not a matter of picking winners – the overseas investor has done the homework and the winner has already been picked."