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

 


Could David Shearer Really Be This Financially Incompetent?

John Banks
ACT Leader

March 20 2013

Could David Shearer Really Be This Financially Incompetent?

Labour Leader David Shearer’s memory lapse has not only revealed his double standards but also his poor financial skills, ACT Leader John Banks said today.

“Mr Shearer remembered to declare his more than $50,000 to the IRD but ‘forgot’ to declare this asset to Parliament, not once, but four years in a row,” Mr Banks said.

“Some estimates conclude that Mr Shearer could have as much as $500,000 in his secret overseas bank account. How does someone forget to account for so much of their own personal wealth?

“It is financially incompetent to not use idle deposits to reduce a mortgage. The first rule of prudent financial management is to pay down debt. So why has Mr Shearer left so much money sitting in an overseas account earning next to nothing in interest when he could put the money to better use paying off his mortgage in New Zealand.

“How can any New Zealander have confidence in Mr Shearer running the country’s finances when he is so forgetful and incompetent about his own finances?

What tops this off is Mr Shearer’s double standard.

“Shearer was very clear last year when he said a “memory lapse alone” means a person is not fit to hold office.

“But now that he’s the one suffering from a memory lapse – a selective memory lapse - he has changed his tune. That’s not good enough.

“He made it clear that in his view people who hold office cannot forget a thing. He said someone who has a memory lapse should stand down.

“Those were his standards. He set them. He should now live by them,” Mr Banks said.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The National Leadership “Contest”

Key’s endorsement of English has turned this “contest” into a race for second place.

This succession was well planned. Lets not forget that English was told by Key in September of his intention to resign, and English was the only member of Cabinet entrusted with that information before it was sprung on everyone else on Monday morning. More>>

Latest: Judith Collins has withdrawn from the leadership race, conceding that Bill English has the numbers to win.

 

Education: Charter Schools Misleading Pass Rates

Labour: NCEA results for charter schools have been massively overstated... In one case a school reported a 93.3 per cent pass rate when the facts show only 6.7 per cent of leavers achieved NCEA level two. More>>

ALSO:

Rebstock Report Resolution: SSC Apologises To Derek Leask And Nigel Fyfe

Following a complaint by Mr Leask, the Ombudsman found that the State Services Commission acted unreasonably in relation to Mr Leask and identified numerous deficiencies in the investigation process and in the publication of the final report and in the criticisms it contained of Mr Leask... More>>

ALSO:

International Rankings: Student Results 'Show More Resourcing Needed'

NZEI: New Zealand had only held relatively steady in international rankings in some areas because the average achievement for several other OECD countries had lowered the OECD average -- not because our student achievement has improved. More>>

ALSO:

Earlier:

Salvation Army Report: Beyond The Prison Gate Report

A new Salvation Army report says changes must be made to how prisoners re-enter society for New Zealanders to feel safe and secure in their homes and communities. More>>

ALSO:

Surprise Exit: Gordon Campbell On The Key Resignation

The resignation of John Key is one thing. The way that Key and his deputy Bill English have screwed the scrum on the leadership succession vote (due on December 12) is something else again. It remains to be seen whether the party caucus – ie, the ambitious likes of Steven Joyce, Judith Collins, Paula Bennett, and Amy Adams – will simply roll over... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news