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

 


National’s mismanagement sees asset sales cost balloon

24 January 2014

National’s mismanagement sees asset sales cost balloon to $440m

National has cost taxpayers over $440m so far with its asset sales policy, Green Party Co-leader Dr Russel Norman said today.

The Crown Financial Statements to the end of November 2013, released today, show that the sale of Meridian and Air New Zealand added hundreds of millions of dollars to the cost of the asset sales programme. When the cost of those sales is combined with the cost of the Mighty River Power sale and ancillary costs such as the Rio Tinto payout, the total cost of the asset sales now stands at $440m.

“John Key has mishandled the asset sales so badly that it has cost taxpayers nearly half a billion dollars,” said Dr Norman.

“National told us they would make hundreds of millions of dollars by selling the assets for more than their book value. Instead, they’ve lost over $200m by hocking the assets off cheaply.

“On top of that, there’s been the hand-out to Rio Tinto, Waitangi claim costs, and tens of millions of dollars to the brokers, ad-men, and lawyers.

“A decent government would be spending its time and money on creating well-paying, sustainable jobs for New Zealanders. National’s wasted its time and the public’s money on an asset sales agenda that New Zealanders didn’t want.

“New Zealanders voted by a margin of more than 2 to 1 against National’s asset sales in the referendum held in December. It’s time National listened and abandoned the sale of Genesis,” said Dr Norman.

Additional information:
Costwatch – tracking the cost of asset sales

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Anzac Day:


Reshuffle: PM Announces Changes To Ministerial Portfolios

Prime Minister Bill English today announced the appointment of Gerry Brownlee as Minister of Foreign Affairs, Nathan Guy as Minister of Civil Defence, Nikki Kaye as Minister of Education and Mark Mitchell as Minister of Defence.

The changes follow the resignations from Cabinet of Hekia Parata and Murray McCully.

In other changes Simon Bridges has been appointed Leader of the House and Nicky Wagner has been made Minister supporting Greater Christchurch Regeneration. More>>

 

Q+A Transcript: CTU Call For 'National Standards' On Wages

‘If you look at countries who do better than us, who pay wages better, who have more competitive industries, more successful economies, they have systems where there are national standards.’ More>>

ALSO:

Health Workers Respond: People's Mental Health Report Released

The People's Mental Health Review reinforces a recent YesWeCare.nz survey of 6,000 health workers, which found nine in 10 believe they don't have the staff or resources to deliver the care Kiwis need when they need it. More>>

ALSO:

More Mental Health:

Energy: Greens Launch Plan For Cheaper And Cleaner Electricity

$112 million for winter warm-up payments to help low-income households cover their power bills • setting a goal for 100 percent renewable electricity by 2030 (in average hydrological conditions) • an investigation into the electricity wholesale market. More>>

ALSO:

Gordon Campbell: On The Aged-Care Settlement

Until yesterday, a National government has always been the sworn enemy of women seeking justice in the workplace, in the face of gender-based pay discrimination. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news