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


Share Sweeteners Are an Admission of Failure

Share Sweeteners Are an Admission of Failure

The Government’s use of instalment receipts for the share offer of Meridian Energy is yet another admission that the asset sales are a complete failure says New Zealand First.

Up to 49 per cent of Meridian Energy will be listed on the sharemarket by early November, the second state-owned asset to be sold by this Government.

New Zealand First leader Winston Peters says that the shares are not attractive enough on their own, hence the Government’s use of instalment receipts as a sweetener for potential investors.

“The first deliberate market distortion by the Government was the recent $30 million taxpayer subsidy paid for Tiwai Point.

“Mighty River Power shares opened at $2.50, are currently sitting well below that, so it’s no wonder that the Government is running scared that the same will happen to Meridian.

“That’s the only explanation as to why they are offering another sweetener of an instalment receipt for these shares – to suck more people in to buying what they already own!

“The Government used loyalty bonus shares for the sale of Mighty River Power. They are using power subsidies and instalment receipts for the sale of Meridian. What will they think of next?


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Police Authority: Use Of Taser Was Disproportionate And Unjustified

The Independent Police Conduct Authority has found that an officer’s second use of a Taser on a mentally unwell Hokitika man was disproportionate and unjustified. More>>


Gordon Campbell: On Holidays, Hekia Parata And Badlands

Hekia Parata, adieu. Reportedly, she’s been ‘passionate’ about education. She has “bravely’ led the charge on the government’s education reforms. In the past week , many of the postscripts to Hekia Parata’s career as Education Minister have sounded like a schoolteacher desperately trying to find some reason why a D student can be marked up to C minus. More>>


Minister of Finance: Plan Shows $100 Billion Infrastructure Projects

Finance Minister Bill English has today launched the Government’s Ten Year Capital Intentions Plan (CIP) which shows a pipeline of $100.9 billion worth of infrastructure projects over the next decade. More>>


Werewolf: Safe Landings Gordon Campbell on the safety challenge to the Wellington runway extension.

The safety-related legal challenge revolves around the size of the 90 metre long Runway End Safety Area (RESA) being proposed for the runway extension. More>>


Environment Commissioner: We Need To Work Together On Climate Change And Farming

“The debate around agricultural emissions and the ETS has been polarised for too long,” said the Commissioner. “But the ETS is not the only way forward – there are other things that can be done.” More>>


NZ Super Fund: Seeking To Put A Market Price On Climate Change

Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More>>


Rejuvenation: Parata Will Not Contest 2017 Election

Education Minister and National List MP Hekia Parata has today announced that she will not be contesting the next election. She advised the Prime Minister of her decision earlier this year. More>>

Prisons Grow: Government Approves Plans For Increased Prison Capacity

Despite significant progress in reducing crime the number of prisoners has increased faster than projected. This is because the proportion of offenders charged with serious crimes has risen, meaning more people are being remanded in custody and serving more of their sentences in prison. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news