Parliament

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

 

Government Betrayal Over Powerco Sale

21 October 2004

Government Betrayal Over Powerco Sale

Rt Hon Winston Peters has accused the Government of betraying New Zealanders by approving the sale of a majority stake in New Plymouth based Powerco to Australian Prime Infrastructure.

This follows the announcement by Finance Minister Michael Cullen that the purchase complies with New Zealand’s regulatory framework so the Government cannot credibly intervene to prevent it under the Overseas Investment Act.

Mr Peters said it was a sad day for New Zealand in that Labour showed that it was no different to National when it came to flogging off valuable publicly owned assets overseas.

“The Powerco sale has been a shambles from the outset and the people of Taranaki who held the majority stake through the New Plymouth District Council and Taranaki Electricity Trust were never properly consulted.

“This is the ultimate in economic stupidity. Swapping a valuable, cash rich New Zealand energy distribution company for a few pieces of silver and some junk bonds.

“Dr Cullen has let the country down and has shown that the ghost of rogernomics still stalks the Labour caucus.

“New Zealand First will put an end to these type of sales after the next election,” said Mr Peters.

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Science Advisors: Stopping Family Violence – The Evidence

A new report “Every 4 minutes: A discussion paper on preventing family violence in New Zealand” by Justice sector Chief Science Advisor, Dr Ian Lambie, discusses the evidence and asks us, as a community, to get involved...

Dr Lambie says family violence is widespread and goes on behind closed doors in all suburbs, affects the childhoods of many New Zealanders, and disturbs adult and family relationships. More>>

 

Conflicts, Inadequacies: IPCA Finds Police Investigation Flawed

The Independent Police Conduct Authority has found that a Police investigation into inappropriate contact between a teacher and a student in Gisborne in 2014 was deficient in several respects. More>>

ALSO:

PM's Press Conference Multimedia: Grace Millane, ACC Levy Hold, Absent Execs

Prime Minister Jacinda Ardern began her Monday post-cabinet press conference with an emotional comment on the murder of English backpacker Grace Millane. More>>

ALSO:

Child Poverty Monitor: Food Poverty Due To Inadequate Income, Housing Cost

The latest Child Poverty Monitor released today by the Office of the Children’s Commissioner reveals alarming facts about children suffering the impacts of family income inadequacy, says Child Poverty Action Group (CPAG). More>>

ALSO:

Open Government: Proactively Release Of Ministerial Diaries

All Government Ministers will for the first time release details of their internal and external meetings, Minister for State Services (Open Government) Chris Hipkins announced today. More>>

ALSO:

Billion Trees: Questions Over Shanes Jones Carbon Claims

“Officials estimate the actual value of the One Billion Trees (OBT) scheme will be just a third of the amount Mr Jones claimed, at about $900 million, and that he padded the number by including $800 million of ETS benefits and $1 billion of business-as-usual activity..." More>>

'Sovereignty Concerns': Plans To Sign UN Migration Pact

New Zealand is likely going to sign up to a United Nations migration pact this week as long as it can iron out a concern around sovereignty. More>>

ALSO:

Most Vulnerable Face Most Risk: Sea Level Rise Threatens Major Infrastructure

The burden of sea-level rise will weigh on the most vulnerable unless a new approach is developed and legislated, a new report says. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels