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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


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Gordon Campbell:
On First Time Voting (Centre Right)

For the next two days, I’m turning my column over to two guest columnists who are first time voters. I’ve asked them to explain why they were voting, for whom and what role they thought their parental upbringing had played in shaping their political beliefs ; and at the end, to choose a piece of music.

One guest columnist will be from the centre right, one from the centre left. Today’s column is from the centre right – by James Penn:

As someone who likes to consider himself, in admittedly vainglorious fashion, a considered and rational actor, the act of voting for the first time is a somewhat confusing one. I know that my vote has a close to zero chance of actually influencing the outcome of Parliament. The chance I will cast the marginal vote that adds to National or Act’s number of seats in Parliament is miniscule. The chance, even if I did, that doing so would affect the government makes voting on a strictly practical level even more spurious as a worthwhile exercise.

But somehow I have spent a large amount of time (perhaps detrimentally so, depending on the outcome of my upcoming exams) agonising over how to cast my first vote in a national election. More>>

 

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