28 Jun 2016

Inquiry reveals NZ's foreign trust rules are inadequate

From Morning Report, 7:11 am on 28 June 2016

The Prime Minister has been forced to backtrack on his claims that New Zealand has a world class foreign trust system that doesn't need changing. John Key defended the rules covering foreign trusts after the Panama Papers revealed they were being used by foreigners to hide money -- he described the New Zealand trust regime as legitimate.