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


News gets worse on Toll deal

Bill English MP
National Party Finance Spokesman

11 May 2008

News gets worse on Toll deal

Labour must urgently answer more questions on the Toll deal so taxpayers know exactly how much money they have spent, says National’s Finance spokesman, Bill English.

Mr English is referring to reports that the Government still owes Toll Holdings $200 million even after it has paid the Australian company more than half a billion dollars for its rail and ferry operations.

“What we know so far is that Labour paid Toll $665 million for the railway business while Toll retained the lucrative freighting arm. Then it became clear that taxpayers are to pick up the tab for new rolling stock. Then it was revealed that Toll had negotiated rent-free use of depot space in prime locations next to rail depots for six years.

“Rumours abound about price discounts for Toll’s freight in addition to this sweetener.

“Now there is uncertainty about whether taxpayers will be saddled with the obligation to repay $200 million of debt. Labour has already gifted the Australian shareholders of Toll Holdings a quarter of a billion dollar profit.

“New Zealand is fast becoming a laughing stock for the Government’s lack of business nouse. Australian media has been crowing that Toll’s rivals there are awaiting their own ‘Helen moment’.

“This deal gets murkier by the week. Taxpayers need to know how much more value Michael Cullen has handed to Toll – in the form of their money – in this desperate election-year lolly scramble.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Another Leader Exiting: Statement From Peter Dunne

I have concluded, based on recent polling, and other soundings I have been taking over the last few weeks, that, the volatility and uncertainty notwithstanding, there is now a mood amongst Ōhāriu voters for a change of MP, which is unlikely to alter...

“I have therefore decided that it is time for me to stand aside, so the people of Ōhāriu can elect a new electorate MP. More>>


Gordon Campbell: On Labour’s Campaign Launch

One of the key motifs of Ardern’s speech was her repeated use of the phrase – “Now, what?” Cleverly, that looks like being Labour’s response to National’s ‘steady as it goes’ warning against not putting the economic ‘gains’ at risk. More>>


Transport Policies: Nats' New $10.5bn Roads Of National Significance

National is committing to the next generation of Roads of National Significance, National Party Transport Spokesperson Simon Bridges says. 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>>





Featured InfoPages

Opening the Election