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


Spin on profitability of SOEs out of control

Gordon Copeland Press Release
For Immediate Release
Wednesday, 6th August 2008

Government spin on profitability of SOEs out of control!

Independent MP Gordon Copeland has expressed his amazement that, when asked a question in Parliament yesterday about the performance of state owned enterprises (SOEs), Minister Trevor Mallard stated that their total revenue for the 2007 financial year was $7.8 billion and that “these are great results”.

“I took a point of order on that matter since I realised immediately that the average New Zealander would conclude from his answer that the Government derives a profit of $7.8 billion each year from the SOEs, where in fact their net income was $727millon, less than 10% of the figure quoted by the Minister,” said Mr Copeland,

“The Minister reacted in his usual rottweiler style to say that I should know the difference between revenue and profit because I am a Chartered Accountant – the usual patronising response one has come to expect from Trevor Mallard when he is caught trying to spin numbers to make the Government look better than it is.”

“I certainly do know the difference between gross revenue i.e. the total value of the sales of the SOE in a year, and net revenue (otherwise called profit or surplus) which is that gross revenue less costs.”

“The result for the year was a surplus of $727 million. The Government’s $7.8 billion ‘’result’ figure is actually an outrageous piece of spin.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Life And Times Of Peter Dunne

In the end, Mr Pragmatic calmly read the signs of impending defeat and went out on his own terms. You could use any number of clichés to describe Peter Dunne’s exit from Parliament.

The unkind might talk of sinking ships, others could be more reminded of a loaded revolver left on the desk by his Cabinet colleagues as they closed the door behind them, now that the polls in Ohariu had confirmed he was no longer of much use to National. 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>>


Lyndon Hood: Social Welfare, Explained

Speaking as someone who has seen better times and nowadays mostly operates by being really annoying and humiliating to deal with, I have some fellow feeling with the current system, so I’ll take this chance to set a few things straight.. More>>


Deregistered: Independent Board Decision On Family First

The Board considers that Family First has a purpose to promote its own particular views about marriage and the traditional family that cannot be determined to be for the public benefit in a way previously accepted as charitable... 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>>





Featured InfoPages

Opening the Election