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

 


Asset sales will leave Govt and economy worse off

21 May 2012

Asset sales will leave Govt and economy worse off

The Green Party today released the detailed findings of a new report that shows the Government and the economy will be permanently worse off if asset sales go ahead.

BERL’s chief economist, Dr Ganesh Nana, was commissioned by the Green Party to investigate the long term impacts of the Government’s signature asset sales programme.

“BERL have found that a programme of asset sales leaves the Government accounts permanently worse off in terms of Government debt, debt ratio, net worth, and total assets,” said Green Party Co-leader Dr Russel Norman.

“Not only is the news bad for the Government’s books, the effect of asset sales on the wider economy is even worse.

“BERL have found that the flow of profits to foreign buyers will result in ‘a permanent deterioration in the external deficit and the level of external debt’.

“Even Bill English accepts that our high levels of indebtedness to overseas lenders is our number one economic vulnerability.

“His programme of asset sales would make that worse.”

Dr Ganesh Nana’s report concluded that, “It would be unwise from an economic perspective to embark on a policy that risked increasing external payment obligations.”

“The National Government has dug itself into a hole with poor economic management and poor choices; asset sales would only make it worse,” said Dr Norman.

“National has borrowed around $2 billion to finance their 2010 tax cuts, has increased ETS subsidies to polluters, and is spending $14 billion on uneconomic motorways.

“Now we are all going to have to pay for National’s poor economic choices with higher charges on prescription medicines, cuts to the number of school teachers, and cuts to affordable housing.

“National’s record debt can be brought under control with smart green economic choices promoted by the Green Party, without punishing families on tight budgets.”

Link to BERL Report on Asset Sales: http://www.greens.org.nz/misc-documents/berl-report-asset-sales

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Gordon Campbell: The PM’s Hair-Pulling Power Trip

There have been striking differences between (a) the account of the waitress involved in the hair-pulling incidents, and (b) the account being given by Prime Minister John Key. The version by the waitress is available here and is recommended to anyone yet to read it. By her account, there were multiple instances of hair-pulling and these persisted and persisted long after she had made her annoyance clear to Key – who had also been advised by his wife, and by other café staff that the behavior was evidently not being welcomed. More>>

ALSO:

War: What’s To Commemorate?

Gordon Campbell in Werewolf: Is there anything that can be validly commemorated on this 100th anniversary of Gallipoli? Beyond, that is, a fleeting sense of empathy with the thousands of soldiers killed or wounded on April 25 1915 and in the months thereafter, until the whole thing was finally called off in December 1915. More>>

MORE IN WEREWOLF:

ALSO:

Peter Ellis Case: Minister Declines Request For Commission Of Inquiry

Justice Minister Amy Adams has declined a request from supporters of Peter Ellis for a Commission of Inquiry on the basis that an inquiry cannot be used to determine the liability of any person. More>>

Quakes: New Process For Red Zone Crown Offers

Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

ALSO:

Gordon Campbell: On The Battle Obama Is Waging Over The TPP

For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

ALSO:

Greens: Govt Breaks Free Doctors Visit Promise To Kids

Documents obtained by the Green Party show that the Government decided to fund only 90 percent of doctors’ visits for children suffering from an injury in an attempt trim the cost of the so-called “free” visits. More>>

ALSO:

Other Wars: Extension Of NZDF Commitment In Afghanistan

The New Zealand Defence Force’s commitment of mentors and support staff to the Afghan National Army Officer Academy in Afghanistan has been extended out to December 2016, Defence Minister Gerry Brownlee says. More>>

PM's Press Conference: Auckland Property Prices Increasing "Too Rapidly"

John Key accepted that Auckland property prices 'are going up too rapidly” in a press conference held today in Wellington, however he said that this is not anything new. More>>

ALSO:

Press Conference: ANZAC PMs Concerned About ISIL Bringing The War Home

Prime Minister Key and Prime Minister Abbott spoke of the bond formed between Australia and New Zealand in the “baptism of fire” of Gallipoli. Abbott stated that New Zealand and Australia’s values and interests are linked, and this is reflected in the joint operation in Iraq which will begin shortly. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news