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


Nats' rail investment idea is Key trading shares

2 October 2008 Media Statement

Nats' idea of investment in rail is John Key making a quick buck in Tranzrail transactions

The now daily angry press statements from the National Party's deputy leader attacking the government's investment in New Zealand's rail network is a sure sign that National would find an excuse to sell KiwiRail if it ever got into government, Finance Minister Michael Cullen said today.

"After 18 months of skyrocketing oil prices, and a few days after the British Conservative Party announced its policy to invest 20 billion pound Sterling into substantially upgrading England's rail network, back home in New Zealand the National Party is now issuing daily statements condemning the government's investment in rail," Dr Cullen said.

"Most New Zealanders completely understand the need for this country to develop a modern, integrated transport system that puts New Zealand first, but the National Party doesn't," Dr Cullen said.

"National's idea of investment in rail is when its leader John Key buys and sells TranzRail shares and doubles his profit within a short space of time," Dr Cullen said.

Note to editors: The Labour-led government is currently funding the largest-ever investment in New Zealand’s road network. Over nine Budgets, annual funding for roading has more than doubled from $850 million in 1999/2000 to over $1.9 billion this year. Annual investment in public transport this year is over fifteen times greater than that of 1999/2000.

On 1 July, the government invested $690 million in buying back New Zealand’s rail asset. In July, an $80 million investment was announced in KiwiRail's rolling stock and on 1 October a further $121 million investment in the rail transport upgrade and growth projects was announced.

Public transport funding has been raised by almost 1100 per cent (from the $41 million spent in 1999/00, the last year of National’s government).


© 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