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


Labour-Greens Power 'Plan' Economic Sabotage

Hon Steven Joyce

Minister for Economic Development
23 April 2012 Media Statement

Labour-Greens Power ‘Plan’ Economic Sabotage

The façade behind the Labour-Greens power plan is crumbling as it becomes clear their electricity nationalisation ‘plan’ is nothing more than deliberate economic sabotage for attempted political gain, Economic Development Minister Steven Joyce says.

“Comments made in recent days by Grant Robertson, David Parker, and Russel Norman show they don’t care about the damage to KiwiSaver accounts, mum and dad investors and the wider New Zealand economy,” Mr Joyce says.

“Financial analysts including JB Were, Woodward Partners, Milford Asset Management, First NZ Capital, Devon Funds Management and Forsyth Barr are unanimous in their condemnation. One has labelled it a ‘hand grenade’ to the New Zealand economy, while others have said it will cut the value of every New Zealanders’ KiwiSaver account and lead to rolling blackouts.

“Investment in new power generation would suffer as would wider investment in the New Zealand economy. The National-led Government is focused on attracting investment in new business and jobs for New Zealanders. Labour and the Greens would do the exact opposite.

“Kiwis are deeply suspicious about the Labour-Greens announcement and its timing. It’s simply economic sabotage.

“The great irony is that it’s clear the policy is not worth it for anybody. The last time that we had central planning of the power industry, prices went up faster. Labour’s own Cabinet paper in 2006 said it would push costs up.

“New Zealanders will see it for what it is: a cynical and selfish attempt by left-wing parties to play politics with the value of New Zealand’s economic assets.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Q+A Transcript: Groser ‘Not Expecting’ Failure At UN Climate Talks

‘I will be very surprised if we don’t get an agreement. I think it’s a completely different situation to Copenhagen for a number of reasons. We’ve got a much more realistic negotiating proposal on the table. Secondly, I think the science has strengthened...’ More>>


Greenpeace Protest:

Climate Talks, Immigration And Housing: PM's Post Cabinet Press Conference

Prime Minister John Key began by talking about his recent attendance at the APEC and ASEAN summits. He segued neatly from the opportunities available in Vietnam to outlining his upcoming itinerary which includes Malta, Paris and Berlin. More>>


After Urgent Law Change: Beneficiaries Urged To Act Immediately

I am hoping that thousands more people will be enabled to lodge their review... people without internet, who don't even realise that this has been happening. If just a fraction of the people on facebook can help others to put in reviews tomorrow it could improve so many more peoples Christmas. More>>


Auckland: Phil Goff To Run For Mayor In 2016

Phil Goff has today announced his decision to stand as an Independent candidate for Mayor of Auckland next year... As Mayor, Phil Goff will focus on a number of issues that directly impact on the lives of Aucklanders, including tackling traffic congestion and increasing the housing supply. More>>


Foreign Affairs: Mike Moore To Step Down As US Ambassador

Yvonne and I are giving notice to MFAT that we will be leaving the Post just before Christmas on the 16th December... I am now the longest serving continuous Ambassador to the US. I didn’t seek this job but felt I should do it because great issues were at stake. The time was ripe for it. More>>


Fox Glacier: Seven Dead In Helicopter Crash

The operation to recover the victims of Saturday’s helicopter crash at Fox Glacier is a technically challenging task calling for specialist skills in an unforgiving environment, says operation commander Inspector John Canning. More>>


Flagging Enthusiasm: Referendum Voting Papers On Their Way

Voting papers are being delivered to over three million New Zealanders from today, as the first referendum on the New Zealand flag gets underway. More>>


Other Election News:

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news