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

 


National wastes $26 million on asset sales so far

National wastes $26 million on asset sales so far

The Green Party has revealed today that the National Government has so far racked up a $26 million bill at the taxpayers’ expense for its ideologically-driven asset sales programme, before a single asset is even sold.
 
A newly released Treasury document shows that Treasury has spent over $16 million on the asset sales policy and the SOEs themselves have spent over $8 million. The costs associated with the water rights dispute arising from the proposed asset sales and the bonus paid to Mighty River’s CEO for guiding it through the planned sale brings the total to $26.1 million.

A total of $106.3 million has been budgeted for the asset sales programme but that doesn’t include large off-budget costs including the bonus share give-away, the water rights dispute, extra pay for executives and directors, and the SOE’s own costs in preparation for sale.

Nor does it include the permanent $100 million a year increase in the deficit, which Treasury says would result from the sales.

“National’s wasted $26 million of public money on asset sales that New Zealanders don’t want – and they haven’t even sold anything yet,” said Green Party Co-leader Dr Russel Norman.

“This is an extravagant waste of taxpayer funds from a government whose constant refrain is that there is not enough money to pay for desperately needed policies.

“These costs are just the tip of the iceberg. If the sales actually go ahead, the cost will balloon into the hundreds of millions,” said Dr Norman.

The Keep Our Assets Coalition has nearly reached its goal of 400,000 signatures to force a referendum on asset sales.

“The huge support for the referendum shows that Kiwis want our energy assets to stay in public ownership,” said Dr Norman.

“Kiwis know it doesn’t make sense to sell off our profitable strategic assets. The $26 million bill that National has racked up so far will only harden the public opposition against asset sales.

“It’s not too late for the National Government to listen to the public and to common sense – stop wasting our money on pointless asset sales and start focusing on fixing the economy.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Journalism’s Future In The Era Of “Alternative Facts.”

Already, the White House has made it clear that the media are the new enemy that the new President’s supporters will be encouraged to unite against. (What else can they do now they don’t have Hillary Clinton to demonise any more?)

The fantastic phrase “alternative facts” coined by Trump spinmeister Kellyanne Conway captures the media strategy in a nutshell. More>>

 

PM's Press Conference: TPP, Trade And Minimum Wage

Prime Minister Bill English’s first official press conference of the year began with a warm welcome back from holidays. In relation to President Trump’s withdrawal from the TPP he expressed disappointment but hopes to negotiate a bilateral agreement with the US in the future. More>>

Employment: Minimum Wage To Increase To $15.75

The minimum wage will increase by 50 cents to $15.75 an hour on 1 April 2017... The starting-out and training hourly minimum wage rates will increase from $12.20 to $12.60 per hour, remaining at 80 per cent of the adult minimum wage.More>>

ALSO:

Housing: Sit-In Occupation To Stop Niki’s Eviction

The Tāmaki Redevelopment Company hopes to issue a Possession Order for 14 Taniwha Street, Glen Innes. This will give them the ability to forcibly evict Ioela ‘Niki’ Rauti who has lived at 14 Taniwha Street for 21 years... More>>

ALSO:

Gordon Campbell: On Bill English, Abroad

If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common. Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues... More>>

ALSO:

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news