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.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news