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

 


Key Govt transfers wealth to those at the top

9 May 2013

Key Govt transfers wealth to those at the top

Mighty River Power’s shares have been transferred from all New Zealanders to corporates and a small minority of already well off New Zealanders, Green Party Co-leader Dr Russel Norman said today.

Finance Minister Bill English last night revealed that only 113,000 individual New Zealanders bought shares in the Mighty River Power offer with an average purchase of $8220 worth of shares. The Government claimed over 440,000 New Zealanders had pre-registered to buy shares.

“There aren’t too many mum and dad investors with the ability to put down $8,220 on a share portfolio,” said Dr Norman.

“The latest data shows that the median household has just $1,700 in the bank. Clearly, most families don’t have thousands for a punt on the stock-market.

“Only the wealthiest two or three percent of New Zealanders have stumped up to buy shares in Mighty River Power.

“The Key Government’s privatisation of our state owned energy companies is seeing a transfer of wealth from all New Zealanders into the hands of a few.

“Also profiting from this failed privatisation will be the brokers and advertising agencies hired by the Government to implement their flawed policy,” Dr Norman said.

“Now is time for the Key Government to tell the public of New Zealand just how much this sale has cost.

“The public deserve to know how many tens of millions of dollars will be transferred to the brokers and advertising agencies profiting from the sale of our state owned assets.

“John Key’s asset sales program has always been a con.

“The truth is now coming out. This is a policy that transfers wealth to private investors and does nothing to assist ordinary New Zealanders.

“The Green Party’s NZ Power plan will lower power prices for Kiwi families and businesses.

“The public now have a clear choice between National, which represents the interest of a few wealthy investors, or the Greens, who offer solutions for all New Zealanders,” said Dr Norman.
ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Greens: Russel Norman To Stand Down As Co-Leader

Green Party Co-leader Dr Russel Norman has announced today that he will stand down as leader at the party’s Annual General Meeting in May. Dr Norman will remain as Co-leader and retain his finance and climate change portfolios until the AGM.

“After nearly a decade as Co-leader, now is a good time to find a new challenge for myself, and to spend more time with my family” said Dr Norman.

“This is my ninth year as Co-leader and I think it’s time for a change. Now is a good time for new leadership for the Party. My replacement will start from a strengthened base and will have a full parliamentary term to establish himself in the role and take the Greens into government in 2017." More>>

 

Gordon Campbell: On The Eleanor Catton Rumpus

If anyone was in doubt about the accuracy of the comments made in India by Eleanor Catton, the reaction from some quarters here at home has gone a long way to proving her point… More>>

ALSO:

More Rent Assistance, Less State-Owned Housing: John Key Speech - Next Steps In Social Housing

"We are going to ensure that more people get into social housing over the next three years, whether that is run by Housing New Zealand or a community provider. The social housing budget provides for around 62,000 income-related rent subsidies a year. We are committed to increasing that to around 65,000 subsidies by 2017/18, which will cost an extra $40 million a year." More>>

ALSO:

The Future Of Work: Andrew Little - State Of The Nation 2015

In 2005 when I led the EPMU we worked together with Air New Zealand to find a way to keep engineering jobs that were heading overseas. A lot of these workers were people I’d known for years and they were facing not just losing their jobs but not being able to find the kind of work they do without going overseas. A lot of people were facing personal and financial upheaval.... More>>

ALSO:

Gordon Campbell: On The Sabin Case, The Pressures On Greece And (Songs About) Coyotes

Mike Sabin is a National MP, and the current chairman of Parliament’s law and order committee. Yet reportedly, he is being investigated by the Police over an assault complaint... However, the PM will not comment on any aspect of the story. More>>

ALSO:

Houses, ISIS, King (& Catton): PM Post-Cabinet Press Conference

The Prime Minister met with reporters to discuss: • Social housing, the Auckland housing market • The prospect of joining international forces to combat ISIS • David Bain’s compensation • The lowering of the flag for the King of Saudi Arabia's death ... More>>

ALSO:

Gordon Campbell: On Tomorrow’s Speeches By John Key And Andrew Little

The Key government has already kicked off the political year on a stridently ideological note, with Environment Minister Nick Smith choosing to lay all manner of sins at the door of the RMA. Tomorrow, the government will wheeling out its best salesman – Prime Minister John Key – to sell its plans for state housing… . More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news