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

 


She won’t be right, mate

Damien
O’CONNOR
Spokesperson for Primary Industries

30 November 2012


She won’t be right, mate

John Key’s ringing of a bell to launch Fonterra’s trading on the New Zealand stock exchange signals the death knell of the cooperative as farmers know it, Labour’s Primary Industries spokesperson Damien O’Connor says.


“The Prime Minister has long been a supporter of strengthening the capital markets and providing opportunities for traders in New Zealand.

“While investors have been hugely enthusiastic about TAF, our farmers should be extremely wary of that given the upward pressure on share price and the additional cost that it will mean for Kiwis wanting to get into dairy.

“There is already evidence that this will create a more complex arrangement for the growth and supply to Fonterra and in my view it will undermine the strength of the cooperative.

“What is really needed is a legislative cap (see attached Bill) on the number of units available for investors - something that will ensure farmers can retain control of Fonterra.

“Without such protection New Zealand’s biggest and most successful cooperative company is set to become just the latest victim of this Government’s hands-off, she’ll be right mismanagement.

“That could hardly be described, as John Key would have it, the ringing in of a new era,” said Damien O’Connor.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Auckland Relocation Grants: 12 Grants Paid So Far

Since the policy took effect one month ago, 12 applicants have received the non-recoverable grant, supporting 32 people. $54,508 has been paid out, covering things like moving costs, bond, rent in advance and letting fees. More>>

ALSO:

Vaccine Funding Change: HPV Vaccines For All Children

PHARMAC has today announced changes to funded vaccines, which will benefit an extra 100,000 people... The human papillomavirus (HPV) vaccine will be available for all children and adults up to the age of 26 years, and boys will now be included in the HPV school vaccination programme. More>>

ALSO:

Gordon Campbell: On Why The Opinion Polls For Key And Trump Defy Gravity

What is going on? Donald Trump got confirmed as the Republican presidential candidate at a bizarrely chaotic political convention… and promptly received an upwards bump in the polls to where he’s now rating ahead of Hillary Clinton, for only the second time this year. More>>

Sugar: Auckland Leisure Centres Axe Unhealthy Drinks

Auckland Council is to stop selling drinks that are sweetened by sugar from vending machines at its leisure centres in a bid to try to reduce obesity and type 2 diabetes... More>>

ALSO:

Gordon Campbell: On Todd McClay’s Faulty Memory

Time and again, whenever an issue arises the initial response by government is to deny or diminish the problem – nothing to worry about here, everything’s OK, move on. Then, hang on. In line with the usual pattern, as embarrassing details emerged into daylight, the story changed. More>>

ALSO:

Labour's 'Future Of Work': Major Reform Of Careers And Apprenticeships

The next Labour Government will transform careers advice in high schools to ensure every student has a personalised career plan, Leader of the Opposition Andrew Little says. More>>

ALSO:

State Investments Management: Treasury Likes IRD, Not Education Or Corrections

The Inland Revenue Department has scored an 'A' in the first tranche of the Treasury's investor confidence rating for state agencies that manage significant Crown investments and assets, gaining greater autonomy as a result, while the Corrections and Education ministries gained a 'C' rating. More>>

ALSO:

Govt Goal: NZ To Be "Predator Free" By 2050

Prime Minister John Key has today announced the Government has adopted the goal of New Zealand becoming Predator Free by 2050... “That’s why we have adopted this goal. Our ambition is that by 2050 every single part of New Zealand will be completely free of rats, stoats and possums." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news