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

 


Key Notes: Genesis share offer coming soon

Key Notes: Genesis share offer coming soon

Genesis share offer coming soon

In the next few weeks, New Zealanders will have the opportunity to invest in a minority stake in Genesis Energy.

This will complete the share offer programme that National took to New Zealand before the 2011 election.

The share offer is successfully meeting each of its objectives.

It means we are investing in new assets - like schools, hospitals, roads, and broadband - without going further into debt.

So far around $4 billion has been raised to invest in these public assets.

Without the share offers, we would either have to borrow the money from overseas investors, or do without the new public assets.

Mum and Dad investors are getting the opportunity to invest in New Zealand businesses, helping Kiwis to diversify their growing investment away from property.

New Zealanders continue to be at the front of the queue for shares. At least 85 per cent of shares in our mixed-ownership companies are held by New Zealanders.

Our mixed-ownership companies will benefit from market scrutiny, just as Air New Zealand has since being set up as a mixed-ownership company by the previous Government.

Air New Zealand is now an award winning, world class airline. It is hard to imagine it being so successful had it been 100 per cent government owned.

The share offers have been a shot in the arm for our capital markets.

2013 was a great year for our share market, over $7 billion of new capital was listed on NZX and the total number of trades on the market jumped by more than 30 per cent.

And, as we promised, the Government is retaining 51 per cent ownership of each mixed-ownership company.

The share offer programme is doing what it was intended to do. I'm proud that, as a Government, we've done what we said we would do.

Ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The Team Behind Trump's Throne

Forget the Putin factor. Daily, the team of charlatans, bigots and stunningly ignorant crackpots that Trump is appointing to head key federal agencies is just as alarming. These are positions with vast power and budgetary discretion over policies that stand to affect tens of millions of vulnerable Americans. Sad! More>>

 

Gordon Campbell: On Bill English, Abroad

If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common. Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues... More>>

ALSO:

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news