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

 

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news