Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Govt ignores repeated warnings over dud Bank

Jenny Shipley Leader of the Opposition

11 April 2001

Govt ignores repeated warnings over dud Bank proposal

Clear evidence has emerged today that Helen Clark has paid $80 million to buy Jim Anderton's support for the coalition, Opposition Leader Jenny Shipley said today.

"Today's release of information under the OIA shows the Government has wilfully disregarded repeated warnings over the Peoples Bank for the sake of political expediency," Mrs Shipley said.

"The experts at Treasury, CCMAU and the Reserve Bank were unanimous in their verdict - don't do it! But the Government ignored those warnings, and is gambling $80 million of taxpayer money on a rank outsider," Jenny Shipley said.

"That's not decisive or courageous decision making; it's a foolhardy use of taxpayers money to secure the Government's junior coalition partner.

"Labour has taken the irrational and irresponsible decision to proceed with this bank as a means of securing Alliance support, by giving Jim Anderton a toy to play with. For each Alliance vote in parliament Labour is putting $8 million of taxpayer money at extreme risk.

"Dr Cullen's explanation for this fiasco is risible. He claims Cameron and Co warned the bank would not attract sufficient customers, but New Zealand Post said 'she'll be right', so the Government proceeded.

"That's bad politics, not good Governance," Jenny Shipley said.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Bridges’ ‘Meth Crooks’ Leadership Failure

Back in June, Bridges publicly accepted that Housing NZ had got it wrong, and that the National government had acted upon bad advice.

Now, you’d think this admission would create a broad bi-partisan basis for compensation to those families who had been unfairly evicted, at considerable cost and emotional distress. Some people had lost their possessions in trying to meet the expense of the upheaval.

Not everyone felt so compassionate. More>>

 

Multimedia & Transcript: Acting PM's Press Conference

Winston Peters, Acting Prime Minister while Jacinda Ardern is in New York for the UN Leaders' Week, held a short press conference Monday after chairing this week's cabinet meeting. More>>

General Assembly: Ardern Rejects Trump Call For War On Drugs

New Zealand will not be signing the United States' document calling for global action on the war on drugs, Prime Minister Jacinda Ardern says. Ms Ardern is in New York for the United Nations General Assembly this week, along with about 140 other world leaders. More>>

ALSO:

Pay Equity: Cabinet Funds Deal For Oranga Tamariki Social Workers

The Minister said that an agreement in principle has been reached between Oranga Tamariki and the PSA on a settlement worth $114.6m over five years. More>>

ALSO:

Hunting v Pest Control: Tahr Control Needed To Protect Alpine Habitats

A cull of introduced Himalayan tahr browsing conservation land in Kā Tiritiri o Te Moana/ the Southern Alps is needed to protect special alpine plants and their habitats, Conservation Minister, Eugenie Sage said. More>>

ALSO:

Protest At Sea: Judge Discharges Greenpeace Activists

The judge today discharged Norman and Howell without conviction, saying the cumulative consequences of a conviction would be out of proportion to what was “low level” offending off the Wairarapa coast in April 2017. More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels