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

 

PARLIAMENT TODAY:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news