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

 


Govt mismanagement huge stress for workers


Clayton
COSGROVE
SOE Spokesperson
3 April 2013 MEDIA STATEMENT
Govt mismanagement huge stress for workers

The Government’s financial mismanagement of the Tiwai Point deal is causing huge stress for South Islanders by putting over 3000 jobs at risk, says Labour’s SOEs spokesperson Clayton Cosgrove.

“Right across the lower South Island families are extremely concerned about their future. And they’re right to be – thousands of jobs could be lost.

“The blame lies squarely with the Government’s financial mismanagement. Everyone saw this coming apart from the Government. Despite numerous warnings John Key ploughed ahead with selling Mighty River and walked straight into the trap set by Rio Tinto.

“Now we risk a serious blow to the economy and the Government is all at sea. National owes it to concerned Southlanders to be honest and upfront about what’s on the table.

“Chances are he won’t be. John Key even claims the huge uncertainty and possible closure of Tiwai Point won’t have a big impact on Mighty River’s share price. That’s being very economical with the truth. Investment analysts say Tiwai’s closure would wipe 12 – 15 per cent off the company’s value.

“That’s a loss of half a billion dollars which will be a blow to the share price, no matter what John Key says. Investors will demand a discount for uncertainty.

“The Government’s insistence on ploughing ahead with the Mighty River sale is what’s got us into this mess. Rio Tinto saw an opportunity for leverage and took it. The sale must be stopped to provide breathing space and help secure a future for Southland.

“This is a process run by amateurs. And the Government is repeating history. They were warned two years before Solid Energy started falling apart yet they did nothing. Again the Government ignored the warnings and is repeating its mistakes,” says Clayton Cosgrove.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Scoop Editor "Ask me anything" : Scoop's 'Invisible Paywall'

Operation Chrysalis: The Final Countdown - Thanks & There's Still Time To Pledge

Phew! We are now counting down the hours to the end of this crowd-funding campaign at 11pm on Sunday. Thankyou to all those Scoop readers and supporters who have pledged already. You have been awesome. But this is not over yet. More>>

 
 

PARLIAMENT TODAY:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news