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

 


90 percent of Kiwis not interested in Key’s asset sales

22 March 2013

90 percent of Kiwis not interested in Key’s asset sales

The overwhelming majority of New Zealanders have not registered any interest in buying shares in companies that already belong to them, Green Party Co-leader Dr Russel Norman said today.

The Government is claiming that over 425,000 people have pre-registered for the Mighty River Power float. Even ignoring the fact that many fake registrations have been lodged, that means 90% of Kiwis have not registered.

“Despite a multi-million dollar taxpayer-funded ad campaign by the National Government and its sharebrokers, 90 percent of New Zealanders have shown that we have no interest in taking part in John Key’s asset sales,” said Dr Norman.

“The overwhelming majority of Kiwis won’t be buying shares in Mighty River Power. What happens to our shares in these companies now? They’ll be sold off to foreign investors, corporates, and the small number of Kiwis who have spare money for investing.

“Many Kiwis have rung my office to say they oppose the sales but intend to buy shares to keep them in New Zealand hands. That’s a legitimate choice but history shows it won’t stop the shares going overseas.

“In the Contact Energy sale, 250,000 people pre-registered, 225,000 bought shares, and only 80,000 ‘mum and dad’ investors are left today. Contact Energy is now in majority overseas ownership. Only a quarter of the shares sold in Contact were allocated to retail investors and, now, less than 10% likely remains in the hands of Kiwi ‘mums and dads’.

“It was the same story with Queensland’s QR National sale. Only a third of the shares sold were allocated to ‘mum and dad’ investors. Today, only 30,000 retail shareholders own only around 7% of the company. The bulk of the company is owned by corporates.

“We already own Mighty River. If it’s sold, our ownership will be diluted. If National really wanted Kiwi mums and dads to own these shares, they would stop the asset sales process now,” said Dr Norman.

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: A Govt. Christmas Bad News Dump -The Skycity Convention Center Blowout & A Negative MBIE Review

If the government really did have good tidings of great joy you can bet it wouldn’t be strewing them about at Christmas time – which is, traditionally, the dumping ground for terrible news that the government fervently hopes the public will be too distracted to notice. And so verily this Christmas Eve we learn of (a) the explosion of costs to the taxpayer and ratepayer of the vile SkyCity convention centre in Auckland and that (b) the government’s flagship MBIE “super-ministry” run by its Minister of Everything is a disaster zone of incompetence and mismanagement. MBIE is a Titanic looking for an iceberg, or so it would seem. More>>

 

Parliament Adjourns:

Greens: CAA Airport Door Report Conflicts With Brownlee’s Claims

The heavily redacted report into the incident shows conflicting versions of events as told by Gerry Brownlee and the Christchurch airport security staff. The report disputes Brownlee’s claim that he was allowed through, and states that he instead pushed his way through. More>>

ALSO:

TAIC: Final Report On Grounding Of MV Rena

Factors that directly contributed to the grounding included the crew:
- not following standard good practice for planning and executing the voyage
- not following standard good practice for navigation watchkeeping
- not following standard good practice when taking over control of the ship. More>>

ALSO:

Gordon Campbell:
On The Pakistan Schoolchildren Killings

The slaughter of the children in Pakistan is incomprehensibly awful. On the side, it has thrown a spotlight onto something that’s become a pop cultural meme. Fans of the Homeland TV series will be well aware of the collusion between sections of the Pakistan military/security establishment on one hand and sections of the Taliban of the other… More>>

ALSO:

Werewolf Satire:
The Politician’s Song

am a perfect picture of the modern politic-i-an:
I don’t precisely have a plan so much as an ambition;
‘Say what will sound most pleasant to the public’ is my main dictum:
And when in doubt attack someone who already is a victim More>>

ALSO:

Flight: Review Into Phillip Smith’s Escape Submitted To Government

The review follows an earlier operational review by the Department of Corrections and interim measures put in place by the Department shortly after prisoner Smith’s escape, and will inform the Government Inquiry currently underway. More>>

ALSO:

Intelligence: Inspector-General Accepts Apology For Leak Of Report

The Inspector-General of Intelligence and Security, Cheryl Gwyn, has accepted an unreserved apology from Hon Phil Goff MP for disclosing some of the contents of her recent Report into the Release of Information by the NZSIS in July and August 2011 to media prior to its publication. The Inspector-General will not take the matter any further. More>>

ALSO:

Drink: Alcohol Advertising Report Released

The report of the Ministerial Forum on Alcohol Advertising and Sponsorship has been released today, with Ministers noting that further work will be required on the feasibility and impact of the proposals. More>>

ALSO:

Other Report:

Leaked Cabinet Papers: Treasury Calls For Health Cuts

Leaked Cabinet papers that show that Government has been advised to cut the health budget by around $200 million is ringing alarm bells throughout the nursing and midwifery community. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news