David
Shearer
Labour Leader

15 October 2012 MEDIA STATEMENT
Forcing SOE sales through sells Kiwis short

The Government’s decision to blindly plough on with the sale of Mighty River Power despite threats of legal action will cost Kiwis millions of dollars, says Labour Leader David Shearer.

“Despite overwhelming opposition and repeated stuff-ups the Government is blundering onwards with its asset sales programme.

“Everyone in New Zealand knows there’s a strong likelihood of legal action, even John Key expects it.

“The risk of legal action will seriously lower the value of Mighty River Power in the eyes of investors. Forcing through the sale with the threat of legal action will ensure Mighty River Power is sold for a lot less than its true worth.

“Investors will demand a lower price for our assets. The decision to sell Mighty River Power is selling New Zealanders down the river.

“Selling state assets at any time is a bad idea and the overwhelming majority of Kiwis agree with me. The Government is forcing the Mighty River sale through just so John Key can save face. John Key’s dignity is going to cost New Zealand millions of dollars in lost revenue and lost capital.

“The Government undertook a sham consultation with Māori solely to shore up their legal position. That’s not good enough.

“John Key must stop this programme now.”

ENDS

© Scoop Media

Scoop Business: Bathurst Gets Nod For DoC Access To Denniston Mine

Conservation Minister Nick Smith has approved access over conservation estate land for Bathurst Resources to develop an open cast coal mine on the Denniston Plateau, above Westport, to the dismay of environmental opponents.

The timing for Smith’s move avoids Bathurst having to resubmit applications for access agreements under the revised Crown Minerals Act, which comes into force tomorrow and would have required public consultation.

The announcement lands in the middle of delicate negotiations between the company, environmental groups and other interested parties that could pave the way to a broader agreement on the Escarpment proposal, whose resource consents are still subject to court appeals. More>>