Parliament

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

 

Solid Energy $40m loss down to inept oversight

Clayton COSGROVE

SOEs Spokesperson

28 February 2013          MEDIA STATEMENT

Solid Energy $40m loss down to inept oversight

Solid Energy’s $40 million hit the half year shows the desperate position the state asset is in and the need for far better ministerial oversight, says Labour’s SOEs spokesperson Clayton Cosgrove.

“SOEs Minister Tony Ryall has thrown in the towel after his asset sales programme fell apart. We need a decent replacement and fast.

“The $40 million loss this half year for Solid Energy shows just how important it is to have a proper plan in place for the SOE.

“National’s neglect ran Solid Energy into the ground and turned it from and export award winning company into a basket case. This awful half year result can’t be completely blamed on low coal prices – those could have been negated years ago if the Government had been on the ball.

“Mark Ford has his work cut out for him. He needs the support of a competent minister, not one dancing off into the sunset,” Clayton Cosgrove said.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The
America’s Cup

The fact New Zealand now reigns supreme once again in the most sophisticated contest in the world’s most elite sport – yacht racing – can’t help but reflect the trajectory the country has been on since the 1980s...

Elite sport used to feel more like a collective, shared experience. It was our team, composed of people who lived and worked like us. Now, not so much. More>>

 

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>

ALSO:

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog