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


Last-minute rule change is political opportunism

Hon Bill English MP
National Party Finance Spokesman

4 March 2008

Last-minute rule change is political opportunism

Labour's last-minute attempt to stop the Canadian Pension Plan Investment Board's bid for a minority shareholding in Auckland Airport looks like political opportunism, says National Party Finance spokesman, Bill English.

"National believes that local control of taxpayer-owned strategic assets is important, but we believe there are established safeguards and mechanisms that deal with the bid by Canadian Pension Plan for a minority shareholding in Auckland Airport.

"Investors need the confidence of knowing what the rules are and knowing they won't change at the last minute. The Canadian offer has been on the table since July last year. The Government has had plenty of time to signal its intentions.

"CPP isn't allowed to hold more than 30% of voting rights over Auckland Airport. The fact that the Government has tried to stop this minority bid creates uncertainty for both New Zealand and overseas investors about the Government's attitude to any foreign shareholding in New Zealand.

"Michael Cullen has now raised questions about just how much of a minority stake overseas investors can have in other important assets like Telecom.

"The Government-owned New Zealand Superannuation Fund is buying minority stakes in assets all over the world, so we need to keep a balanced and pragmatic attitude about the constructive role foreign investment can play."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election