John Key MP

National Party Leader

13 April 2008

SOEs to be retained under National

National Party Leader John Key says National wants to build New Zealand’s asset base, and so will not sell all or part of any state-owned enterprises or Crown company.

”The sale of state-owned enterprises is not necessary.  The New Zealand Government does not have a debt problem – the country has a growth problem.

“I’m interested in doing what is needed to drive New Zealand’s performance into the second decade of the 21st century.  I’m not interested in being distracted by tired old debates that achieve nothing.  There are more important areas National needs to direct its energies in.

“However, it is still necessary to ensure the Government’s investment in these very important state-owned enterprises is well managed.”

National will:

-          Not sell any state-owned enterprises or Crown-owned companies in full or part in National’s first term.

-          Review governance of all SOEs to ensure strong performance.

-          Review the 20-year-old reporting and accountability processes of SOEs to ensure they provide effective monitoring of performance and improve performance.

“National wants to build New Zealand assets, and infrastructure is a vital part of that drive to increase the country’s overall performance.

“National will invite people to invest in new infrastructure and new assets.

“To that end, we are considering other ways to invest in infrastructure, and one is infrastructure bonds.  These could be available both to mum and dad investors and government funds like the NZ Super Fund to invest in – for the benefit of the whole country.”

Ends

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