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

 


Government At War with Solid Energy Board

Government At War with Solid Energy Board

Despite having known the scale of Solid Energy’s troubles for years the Government was prepping the company for sale just days before it cut 400 jobs and revealed it was in serious trouble, says Labour’s SOEs spokesperson Clayton Cosgrove.

“National was determined to sell off Solid Energy, come hell or high water. It didn’t matter what the cost. Despite knowing about the serious financial troubles facing Solid Energy they continued to demand the company prepare for sale.

“Astonishingly the Government’s latest ‘document dump’ shows they were still preparing for a float just days before the August 2012 press conference where they announced they were cutting hundreds of jobs.

“The Government let this company get deeper and deeper into trouble. Instead of facing facts and ensuring the company had a long term future they kept trying to put up the for sale sign. There were asleep at the wheel and dreaming of the asset sales dough.

“The Government is now no longer prepping the company for sale, it’s prepping it for the receivers. In February Bill English said there was no way they would let the company fail.

“Yet just two weeks ago Bill English openly questioned Solid Energy’s future. Yesterday John Key said he had seen a KordaMentha report into Solid Energy and started referring to it as a ‘broken company’.

“It’s clear to me that National is preparing Solid Energy for being split up and sold off.

“The Prime Minister says the bankers need to take a haircut so they will lose some of what they’re owed. If they’re taking a haircut it’s the taxpayer that’s been scalped because they’ve been left $389 million in the red and seen 500 jobs lost.

“These documents show a government at war with its own board. National has stuffed up Solid Energy from day one of their asset sales plan.

“Despite numerous warnings - from UBS’s scoping report, from their month-to-month reports and from Treasury - they did nothing. Instead of taking action they merely jawboned.

“National should stop playing politics and start turning the company around. The Government has refused our calls for an inquiry. There must be one now.

“The Government can’t claim that it’s a sound financial manager. They took an export award-winning company and left New Zealanders with financial archaeology. 

“There are 1100 people working for Solid Energy who are hugely concerned about their future. They need some stability,” says Clayton Cosgrove.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Two Dead, One Injured: Suspect Charged After Ashburton Shooting

Russell John Tully has appeared in Christchurch District Court. Tully has been remanded in custody on charges of murder of Peg Noble and Leigh Cleveland and attempted murder of Lindy Curtis.

The victim’s families and the victim have requested that their privacy be respected and will not be making a statement at this time.

Police have formed a picture of what has occurred yesterday and are appealing for further information and sightings .... More

 

Parliament Today:

John Key Press Conference: Ashburton Shootings, Judith Collins Inquiry

Prime Minister John Key has delayed the release of Nationals’ fiscal policy in light of this morning’s shooting at a Work and Income office in Ashburton... Key also answered questions about Judith Collins, and confirmed that independent inquiry will be held with regard to allegations made against Collins. More>>

ALSO:

Internet MANA: Georgina Beyer Rocks The Waka

“There is now, and always will be, a range of views about many issues within our movement and members are free to express them, but Georgina’s views on Kim Dotcom are not shared by the MANA Movement leadership or the vast majority of MANA members and supporters around the country” states MANA Candidate for Waiariki, Annette Sykes. More>>

ALSO:

IGIS Update: Inquiry Into Release Of NZSIS Information

The Inquiry would be conducted in private and individuals would appear before her separately over a period of more than a week. She does not intend to name those summoned to give evidence until her report is published. “I can confirm that all persons summoned will be required to appear under oath...” More>>

ALSO:

Gordon Campbell:
On John Key’s ‘Blame It On Judith’ Strategy

Right now, Prime Minister John Key seems intent on limiting the scope of any inquiry into his government’s dealings with Cameron Slater. The declared aim is to make that inquiry solely about Judith Collins’ behavior with respect to the Serious Fraud Office. More>>

ALSO:

Maori Council Lawyers' Statement: Supreme Court Decision On Maori Water Rights

“…the Supreme Court refused to give Pouakani people what they asked for, but may have given them something much, much better instead… the Supreme Court has questioned whether the Crown owns the River at all.” More>>

ALSO:

Gordon Campbell: On The Debate, And The Collins Accusation

Debating is a peculiar discipline in that what you say is less important than how you’re saying it. Looking poised, being articulate and staying on topic generally wins the day – and on that score, Labour leader David Cunliffe won what turned out to be a bruising encounter with Prime Minister John Key last night on TVNZ. More>>

ALSO:

Gordon Campbell: On Winston Peters' Latest Bout Of Immigrant Bashing

It is only one poll, but rather than cannibalising each other's vote, Colin Craig and Winston Peters do seem to be managing to find the room to co-exist... Few are questioning how Peters got to this happy place, and what it says about the mood of the electorate. More>>

ALSO:

More Immigration News: First People Trafficking Charges

The first people trafficking charges in New Zealand have been brought by Immigration New Zealand (INZ)... The defendants have been charged under the Crimes Act 1961 for arranging by deception the entry of 18 Indian nationals into New Zealand. More>>

Collins 'Misinterprets Media Reports': "Too Compromised To Remain Justice Minister"

Bizarre claims by Judith Collins this morning that she had been cleared of inappropriate behaviour by the Privacy Commissioner demonstrates she is too compromised to remain Justice Minister, Labour MP Grant Robertson says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news