Key must release all asset sales shares advice

Labour is calling on John Key to immediately release all information the Government has received supporting his claims that majority ownership of public assets will remain in New Zealand hands after National has sold them.

"John Key, Bill English and Tony Ryall have repeatedly told New Zealanders that 85-90 per cent of the four energy companies and Air New Zealand that National wants to sell will remain in Kiwi hands," Labour's campaign spokesman Grant Robertson said.

"They have also said that any one stakeholder would be limited to a 10 per cent cap of shares to give 'mum and dad' shareholders a stake.

"Under pressure from the Ombudsman, the Government has been forced to reveal these claims are worthless.

"National has received no official advice, and instead is relying on National Party staffers and 'market contacts'.

"It was reported on TV One today that official advice stated:

* 'Treasury advises that it has not provided the Minister with any advice about a possible 10 per cent maximum shareholding cap'.

* 'The basis for the 85-90 per cent expected take up and the 10 per cent shareholding cap was oral advice provided by Ministers' economic advisers and informal discussions with market contacts'.

Grant Robertson said: "John Key and other senior ministers have been caught out attempting to hoodwink the public.

"Today's new information weakens an already flimsy case.

"But more vital information is being kept hidden by National in five additional reports it won't release before the election.

"This information must be released immediately so that all New Zealanders can see just what's at stake.

"Labour strongly believes the case for selling these assets is utterly flawed and we are committed to keeping them in New Zealand public ownership," Grant Robertson said.

Authorised by Grant Robertson, Parliament Buildings, Wellington

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