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

Gaza.Scoop: UNRWA School, Ambulances Attacked - Gaza MOH

The Ministry of Health Gaza expresses its horror and outrage at the latest Israeli massacre moments ago at an UNRWA school sheltering displaced persons in Beit Hanoun. Ten people have been killed and there is a large number of wounded. More>>

ALSO:

Gordon Campbell:
On Gaza And Burning The Israeli Flag

One of the selling points in New Zealand’s campaign for a temporary seat on the Security Council is that we have a pluckily independent voice to offer on international conflicts.

This image is not entirely self-delusional. When we did occupy a temporary UN Security Council seat in the 1990s, New Zealand was forthright about the need for the international community to actively respond to the Rwanda genocide. On April 14, 1994, New Zealand, Nigeria and the Czech Republic were the only nations to call for a forceful UN intervention to halt the killings. It was a proud moment in the diplomatic record of the Bolger government.

What then, is the current National government doing with respect to the slaughter in Gaza? More>>

 

Parliament Today:

Minister Told Of FBI Investigation, Says INZ: Coleman Must Quit Or Be Sacked Over Dotcom Case - Harré

Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. More>>

ALSO:

Valedictory Season: Maori Party Founders Say Goodbye

Two major Maori MPs gave there farewell speeches to Parliament Thursday outlining their history, experiences, triumphs and regrets. More>>

ALSO:

Resignation Not Accepted: Transport Minister Breaches Aviation Security Rules

"Running late for a plane at Christchurch Airport, I without thought breached airport and airline security rules by entering the gate lounge through a door usually used for exit only..." More>>

ALSO:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

EPA: Board Of Inquiry Rejects Basin Flyover By Majority Of 3 To 1

The independent Board of Inquiry delegated to decide on the Basin Bridge Proposal has, by a majority decision (3 to 1), cancelled the Transport Agency’s Notice of Requirement and declined its resource consent applications for the construction, operation and maintenance of a flyover on State Highway 1 in Wellington City... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news