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

 

PARLIAMENT TODAY:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news