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

 


So much for Kiwis at the front of the queue

29 January 2012

So much for Kiwis at the front of the queue

A visit by Mighty River Power CEO Doug Heffernan to talk to Australian hedge fund managers undermines John Key’s promise that New Zealanders would be at the front of the queue for shares in our publicly-owned assets, Green Party Co-leader Dr Russel Norman said today.

Mr Heffernan and Mighty River Power CFO, William Meek, met with Australian hedge fund managers in Sydney and Melbourne last week, according to media reports. In his statement to Parliament today, the Prime Minister said that ‘New Zealanders will be at the front of the queue for shares’.

“Kiwis have always known that asset sales are a con and that the a large number of shares would end up in overseas ownership. This is further evidence that National’s talk of ‘mum and dad’ investors is just empty spin,” said Dr Norman.

“Clearly, the Government intends that large parcels of shares will be bought by offshore institutions, if the sale of Mighty River Power goes ahead. The company’s senior managers are already trying to entice Australian hedge funds to buy up shares.

“Mighty River Power is a proudly New Zealand-owned company, and so it should remain. Its purpose is to provide sustainable electricity to New Zealand families at a fair price and produce a return to the Government, not to make profits for overseas investors.

“Kiwis know that asset sales mean loss of control and loss of economic sovereignty. That’s why 360,000 of us have already signed the petition calling for a referendum on asset sales.

“The Government should stop trying to hock off our assets to overseas companies, listen to New Zealanders, and keep our assets,” said Dr Norman.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news