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 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>>

 

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>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news