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.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Werewolf: Safe Landings Gordon Campbell on the safety challenge to the Wellington runway extension.

The safety-related legal challenge revolves around the size of the 90 metre long Runway End Safety Area (RESA) being proposed for the runway extension. More>>


Environment Commissioner: We Need To Work Together On Climate Change And Farming

“The debate around agricultural emissions and the ETS has been polarised for too long,” said the Commissioner. “But the ETS is not the only way forward – there are other things that can be done.” More>>


NZ Super Fund: Seeking To Put A Market Price On Climate Change

Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More>>


Rejuvenation: Parata Will Not Contest 2017 Election

Education Minister and National List MP Hekia Parata has today announced that she will not be contesting the next election. She advised the Prime Minister of her decision earlier this year. More>>

Prisons Grow: Government Approves Plans For Increased Prison Capacity

Despite significant progress in reducing crime the number of prisoners has increased faster than projected. This is because the proportion of offenders charged with serious crimes has risen, meaning more people are being remanded in custody and serving more of their sentences in prison. More>>


Gordon Campbell: On Plastic Bag Activism, And Street Harassment

Amusing to see the Act Party experiencing another outbreak of young fogey-ism. What has aroused the ire of Act Leader David Seymour this time is the introduction of a Greens private members bill to the ballot process, calling for a 15 cents levy on plastic bags to reduce pollution. More>>


Unclear Weapons: US Navy Ship Cleared To Visit NZ For Navy's 75th

United States Navy ship, the USS Sampson, has been given clearance to visit New Zealand next month by Prime Minister John Key... “The process for considering the visit by the USS Sampson is the same as that used for all ships attending the International Naval Review." More>>


P Policy: $15m Allocated To Tackling Drug Abuse

Almost $15 million dollars seized from criminals will be invested in anti-drug initiatives, with more funding for Police and Customs and a greater focus on treatment for drug abusers, Prime Minister John Key says. More>>


More Or Less Democratic Countries: Fiji Prime Minister To Visit NZ

“This will be Prime Minister Bainimarama’s first official visit to New Zealand as Fiji’s Prime Minister,” Mr Key says. “New Zealand and Fiji have strong ties in a range of areas, and the Prime Minister’s visit presents a further opportunity to discuss issues of mutual interest.” More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news