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Govt Must Make Up Its Mind On Telecommunications

The Government should end the uncertainty and announce its ultimate decision on the telecommunications review immediately, National Communications spokesperson Lockwood Smith said today.

"Finance Minister Michael Cullen today acknowledged the huge uncertainty the review has created, wiping million of dollars off the value of Telecom shares.

"Dr Cullen's given a broad hint that the Government won't adopt the recommendation of an industry-specific regulator.

"He realises the review has spooked the markets. It's yet another sign of the business-hostile policies this Government has made a name for.

"I welcome his hint that the Government is trying to catch up and see reason. As I said at the time, industry-specific regulators don't work overseas and can make more costs for consumers.

"But a hint from Dr Cullen is not good enough. It's not scheduled to make a final decision until December.

"It must put the market out of its anxiety and make a decision straight away," Dr Smith said.

Ends

A printable formatted copy of this press release will be available on http://www.national.org.nz along with an archive of previous releases.


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