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

 


Rio Tinto profit shows Key’s hand-out unjustified

Rio Tinto profit shows Key’s hand-out unjustified

The $3.7 billion profit posted by Rio Tinto yesterday shows that the $30 million taxpayer hand-out that National gifted to the owners of the Tiwai smelter last year was unjustified, Green Party Co-leader Dr Russel Norman said today.

Multi-national Rio Tinto yesterday announced a profit of $3.7 billion in the past year, the same time period in which National made a deal with Rio Tinto to hand over $30 million in taxpayers’ money to Rio Tinto subsidiary Pacific Aluminium in return for a promise to keep the Tiwai Smelter open until January 2017. The deal came during the lead-up to National’s sale of shares in Meridian, the electricity company that owns the Manapouri dam that powers the smelter.

“National gave a $30 million hand-out of taxpayer money to Rio Tinto last year. Now that company has posted a $3.7 billion profit, John Key should be asking for our money back,” said Dr Norman.

“Rio Tinto took advantage of Mr Key’s obsession with asset sales by threatening to derail the sale of Meridian by closing the Tiwai smelter, so Mr Key gave them $30 million of public money.

“This isn’t the first time that Mr Key has been out-foxed and backed into a corner by multi-national corporations in search of a taxpayer hand-out. Time and again, they have applied pressure to his political agenda and he has folded, leaving the taxpayer to pick up the bill.

“New Zealanders deserve better. Now that Rio Tinto has posted this enormous profit, Mr Key needs to step up for New Zealand taxpayers and try to get our money back. I doubt he will though.

“Mr Key seems more than content to write cheques with the public’s money to any corporate that comes knocking on his door,” said Dr Norman.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news