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


New UFB spend-up for asset sales slush fund

Clayton Cosgrove
SOE Spokesperson

26 March 2014

New UFB spend-up for asset sales slush fund

National has snuck in yet another spending item into its asset sales slush fund, this time money for ultra-fast broadband, Labour’s SOE spokesperson Clayton Cosgrove says.

“National has promised around $20 billion in spending from asset sales, including loans to failed SOE Solid Energy, advertising materials for the sales themselves and the bonus scheme for Mighty River Power [1].

“But now we know the sales will raise well less than $5 billion. Despite falling over $15 billion short of its promises, National has snuck another one in at the last minute.

“In their press release today Bill English and Tony Ryall said they would now spend part of the $4 billion they have raised on ultra-fast broadband.

“This is the first time that ultra-fast broadband has been mentioned. It raises serious questions.

“Two weeks ago Crown Fibre Holdings said no new funding would be made available to Chorus – so what is this money intended for?

“Is it a backdoor bail out of Chorus, paying them in another way? The public needs answers now.

“National promised the sales would pay for new assets – they should not be used to pay for the Government’s mistakes,” Clayton Cosgrove says.

[1] Includes pledges for city rail link, money for Christchurch rebuild, new schools and hospitals, KiwiRail, Wellington war memorial, irrigation subsidies and more.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Housing Issues: Homelessness On The Horizon For Baby Boomers

Baby Boomers who have held down jobs and contributed to the well-being of New Zealand through their taxes may yet become homeless in late middle age or early retirement without urgent Government action, says The Salvation Army. More>>


Treasury Has Doubts On Christchurch Rebuild And... Auditor-General Follows Up On EQC

Despite the improvements made, EQC could still learn better from complaints and improve its customer focus and interactions... Although the programme is nearing completion, EQC needs to provide the best service possible for the home owners whose homes are still to be repaired. More>>


Man Who Banned 'Into The River' Out The Door: Appointments To The Film And Literature Board Of Review

Internal Affairs Minister Peter Dunne has announced seven appointments to the Film and Literature Board of Review... “The new members of the Board... will provide a strong mix of skills and experience to help the Board carry out its functions, while representing a cross-section of society.” More>>


Climate Marches: New Zealanders March For Solutions Not Pollution

Ahead of the UN Climate Summit in Paris more than 15,000 New Zealanders have taken part in the Peoples Climate march in Auckland, kicking off the largest climate mobilisation the world has ever seen... More>>


Labour: Little Announces New Shadow Cabinet

“Labour had an impressive intake of fresh faces after last year’s election and newest MPs have now had a year to show what they’re made of. This reshuffle rewards hard work and continues my drive to renew our Caucus line up." More>>


Because Reasons: Someone Reckons David Seymour Is Politician Of The Year

Trans Tasman's 11th annual Roll Call has thrown a curve ball this year, ignoring the likes of John Key, Bill English, and Winston Peters to pick its politician of the year from the ranks of the new generation. More>>


Whaling: NZ Deeply Disappointed By Japan's Decision

“New Zealand is strongly opposed to whaling in the Southern Ocean. We call on Japan to take heed of the 2014 International Court of Justice decision and international scientific advice concerning their whaling activities.” More>>


Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news