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

Election Day: Make Sure You're A Part Of It!

Saturday 20 September, is election day, and New Zealanders’ last chance to have a say on who leads the country for the next three years.

“The people and parties we elect tomorrow will be making the decisions that affect us, our families and our communities,” says Robert Peden, Chief Electoral Officer. “It doesn’t get much more important than that, and we need all New Zealanders to use their voice and vote.”

Voting places will be open from 9.00am until 7.00pm on election day. The busiest time at voting places is usually 9.00am - 11.00am.

“Take your EasyVote card with you when you go to vote, as it will make voting faster and easier, and vote close to home if you can. But don’t worry if you forget your card, or didn’t receive one, because as long as you are enrolled to vote, your voice will be heard,” says Mr Peden. More>>

 

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news