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

Patience: Drive Safe

Be patient before passing is the AA's message for drivers this Labour weekend.

"People taking crazy risks to get past other vehicles is one of the most dangerous things on the road,” says AA spokesperson Dylan Thomsen.

“The weather is looking good for the long weekend so the roads will be busy. Unfortunately, that also increases the chances of people getting frustrated and trying a risky passing manoeuvre. When they get past, there will probably be more traffic up ahead anyway so it won’t get people there faster.” More>>

 
 

Parliament Today:

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Gordon Campbell: On Pharmac, Gough Whitlam And Sleater-Kinney

We’re not at the outset of these negotiations. The outset was six years ago, and negotiators were hoping to have some sort of ‘framework’ deal finished in time for the APEC meeting in a few weeks’ time. These ‘extreme’ positions are what we’ve reached near the intended end of the negotiations… More>>

ALSO:

PM Of Many Hats: Questions, No Answers On Whale Oil

Dr RUSSEL NORMAN (Co-Leader – Green) to the Prime Minister: How many times since November 2008 has he spoken with blogger Cameron Slater on the phone and how many times, if any, has he texted him?
Rt Hon JOHN KEY (Prime Minister): None in my capacity as Prime Minister. More>>

ALSO:

Aussie Investigation Dropped: Call On Minister McCully To Pursue The Case Of Balibo Five

West Papua Action is deeply concerned at the lack of any clear outcome from the Australian Federal Police inquiry into the 1975 deaths of the ‘Balibo Five’ including NZ journalist Gary Cunningham. More>>

ALSO:

'Feed The Kids' Bill: Metiria Turei To Lead Fight On Feeding Hungry Children

Green Party Co-leader Metiria Turei is urging all political parties to support the Feed the Kids Bill which she inherited today from Mana leader Hone Harawira. More>>

ALSO:

Parliament Today: State Opening Of Parliament

The House sat at 10.30am on Tuesday before MPs were summoned to hear the Speech from the Throne in the Legislative Council Chamber. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news