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

 


Genesis: The biggest fire sale of them all

Genesis: The biggest fire sale of them all

National has finished its asset sales with a massive bonfire of a fire sale, showing once and for all how much of a disaster this programme was, says Labour’s SOEs spokesperson Clayton Cosgrove.

“Just 68,000 Kiwis bought shares in Genesis, little more than 1 per cent of New Zealanders. This is despite massive taxpayer lolly bags to convince them to buy in.

“The Government is trying to claim 68,000 is a success but it is just 5,000 more than the failed sale of Meridian attracted.

“It’s all the more remarkable given the Government’s target was up to 250,000 investors.

“The failed asset sales programme has brought in less than $4.7 billion, over $1 billion less than the midpoint of their $5b - $7b election year promise.

“National spent hundreds of millions of dollars on lawyers, accountants, advertising agencies, financial institutions, bonus schemes and public relations. This is the most scandalous waste of money on state assets since Think Big.

“It has been overseen by the retiring Tony Ryall, who made such a mess of Solid Energy he had to take it off the auction block. He will go down as the most incompetent SOE Minister in history.

“The Government should apologise to New Zealanders for selling off their assets at the political equivalent of a garage sale,” says Clayton Cosgrove.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics.

Can the two surviving Maori Party MPs (one electorate, one list) credibly work together with the old firebrand who split up the group years ago, and still hope to rekindle some of that same old magic? More>>

 

Private Provision: First Social Bond To Focus On Mental Health

New Zealand’s first social bond will help around 1700 people with mental illness into work, Finance Minister Steven Joyce and Social Investment Minister Amy Adams say. More>>

ALSO:

Megaupload Case: High Court Rules Dotcom, Co-Accused Eligible For Extradion

Internet entrepreneur Kim Dotcom and his three co-accused are eligible for extradition to the United States, New Zealand's High Court ruled... Justice Murray Gilbert upheld a decision by the District Court that there were grounds for Dotcom, Mathias Ortmann, Bram van der Kolk and Finn Batato to be extradited. More>>

ALSO:

PREVIOUSLY:

Immigration: Short Reprieve For Nine Indian Students

A temporary hold on deportations of nine Indian students is a step in the right direction but the Government urgently needs to implement safeguards to stop further injustices to more international students, the Green Party says. More>>

EARLIER:

Port Hills Fire: Midday Update, Monday 20 February

• 9 homes destroyed
• 2 homes with partial damage. Damage includes things like cracked windows, heat damage.
• 3 properties with damage to other external structures e.g sheds or outbuildings More>>

ALSO:

Welfare: WINZ Breaching Privacy Laws With WINZ Vetting Rules

E tū, the union for security guards, says WINZ may be breaching privacy laws with its new screening process for people visiting WINZ offices. The vetting requires WINZ security guards to check photo ID and whether visitors to WINZ offices have an appointment.More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news