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

 


Asset sales cash is the new printing money

David

PARKER

Spokesperson for Finance

2 July 2013 MEDIA STATEMENT
Asset sales cash is the new printing money

National is setting future generations of New Zealanders up for a borrowing binge while they mislead New Zealanders with claims asset sale funds can be spent over and over – in a new take on printing money, says Labour’s Finance spokesperson David Parker.

“John Key is playing New Zealanders for fools. He keeps promising the earth from asset sales proceeds but knows that there is no way the money will cover all his promises.

“It’s printing money, National Party-style.

“National’s senior ministers are in an unseemly rush to grab the proceeds of SOE sell-offs for themselves.

“John Key told us asset sales are necessary to ‘avoid a credit downgrade’, months before New Zealand suffered a downgrade. Tony Ryall said that asset sales are necessary to pay down debt.

“Bill English claimed the money will be used to build ‘schools and hospitals’. Gerry Brownlee insisted that asset sales cash will to be used to rebuild Christchurch. Nathan Guy said the money is needed to subsidise irrigation on multi-million dollar farms.

“The spending splurge goes on. Just last week the Government pledged $10 billion for Auckland and almost $3 billion for Christchurch, claiming that asset sales will help cover that spending.

“Asset sales can’t fund all of that. The truth is sales have only netted $1.7 billion.

“National must stop trying to justify its asset sales programme by promising cheques for every cause under the sun. The truth is asset sales won’t cover the Government’s promises. This Government is on a borrowing binge.

“In contrast the last Labour Government reduced gross government debt from 38 per cent of GDP to 18 per cent and net debt to zero,” says David Parker.

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Wage Hike For MPs (and Paul Robeson)

Hard to tell what is more infuriating. Is it the 5.3% increase on the already bloated salaries of MPs, or their pantomime of outrage at being gifted with such a wonderful back-dated bonanza?

As usual, Prime Minister John Key has busily tried to distance himself from the political fallout, even though he happens to be the main beneficiary of the Remuneration Authority’s generosity. Finance Minister Bill English says with a straight face that it would actually be very hard to give the money back...

Even if it were true, it would actually be very easy for English and any other guilty colleagues, to give the extra money away. There are any number of food banks or homeless shelters who would be able to put the money to good use. More>>

 

PARLIAMENT TODAY:

No Designers Or Visual Artists: Flag Panel Members Announced

The Government has appointed 12 New Zealanders as members of the Flag Consideration Panel which will engage with the public about a possible new New Zealand flag, Deputy Prime Minister Bill English says. More>>

ALSO:

Labour MP Stands Down From Portfolio: Comment From Carmel Sepuloni

The first I knew of my mother’s charges was when I was called by a reporter yesterday. I spoke to Andrew and we agreed there is a conflict of interest at the present time which means I will temporarily stand aside from the Social Development portfolio. It’s the right thing to do… . More>>

ALSO:

Gordon Campbell: On Whether NZ Troops Are The Least Of Islamic State’s Problems

Given that it has been politically packaged and sold as a training mission, the Iraq deployment announced yesterday by Prime Minister John Key seemed to be mysteriously short of actual trainers... The other wing of the argument is whether a troop deployment is (a) the only effective way and (b) the appropriate time to combat Islamic State. More>>

ALSO:

143 Troops, Possible SAS Deployment, Legalities Unsorted: PM’s Statement On ISIL

Mr Speaker, today I am announcing to the House the Government’s decisions about our contribution to the fight against the Islamic State of Iraq and the Levant, or ISIL... More>>

ALSO:

Liu Saga: PM's Dinner With Controversial Donor

John Key must front up to New Zealand and say what he discussed with Donghua Liu when the disgraced businessman paid $25,000 for the Prime Minister to come to dinner at his Remuera home, the Green Party said today. More>>

ALSO:

Roads: National MP 'Concerned' At Overseas Driver Crashes

Waitaki MP and Parliamentary Private Secretary for Tourism Jacqui Dean said she was concerned at the number of fatal crashes involving overseas licence holders and she really felt that the time had come for more to be done. More>>

ALSO:

Parliament Today: Parole Bill Passes

A bill reducing parole hearings deemed to be unnecessary has passed. The third reading of the Parole Amendment Bill was completed by 104 to 16 with the Greens and Maori Party opposed. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news