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

 


Taxpayers robbed of $130m in Genesis sale

Clayton

COSGROVE

SOE Spokesperson


17 April 2014 MEDIA STATEMENT
Taxpayers robbed of $130m in Genesis sale

Kiwi taxpayers have been robbed of $130 million by the Government in its final failed asset sale, says Labour’s SOEs spokesperson Clayton Cosgrove.

“National set the price for Genesis far too low in a desperate attempt to beef up demand. Today that was proven with the traders and institutions making a killing as the price leapt by almost 20 per cent as soon as it listed.

“The financiers and the spivs will be popping champagne corks tonight and laughing at the misfortune of Kiwis as their assets were sold off in a fire sale.

“The sales were only driven by John Key’s political vanities. They turned out to be the Bonfire of his Vanity.

“National knew this was the case. Morningstar valued 50 per cent of Genesis at $900 million but the Government sold it for just $733m.

“This was National’s final failure. Tony Ryall’s valedictory speech should include a personal apology to Kiwi taxpayers for being the most incompetent SOE minister in our history,” says Clayton Cosgrove.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

False Electoral Return: John Banks Sentenced To Community Work, Curfew

“The conviction of John Banks today is another sad chapter for John Banks and the ACT Party”, says Labour candidate for Epsom Michael Wood.

“Mr Banks was found guilty of electoral fraud in June. Regardless of what sentence is handed down, his reputation is in tatters. Sentencing is a matter for the court, and publicly deriding him further brings little benefit.”

“With the conviction confirmed, it is time for the ACT Party to step up to the mark and apologise to the people of Epsom. Mr Banks has suffered the consequences of his actions, but so far the ACT Party has gotten off scott-free” More>>

 
 

Parliament Today:

Gordon Campbell: On The Rise Of ISIS And Labour

While global attention got distracted by the fate of MH17 and the atrocities in Gaza, the world’s other mega ‘bad news’ story – the rise of ISIS-led fundamentalism in Iraq – has reached a tipping point. More>>

ALSO:

Parliament Today: Parliament Adjourns

The 50th Parliament has adjourned for the final time. After the completion of the adjournment debate, MPs left for the campaign trail with Parliament to be dissolved on August 14 ahead of the September 20 election. More>>

ALSO:

Novopayout: Government-Owned Company To Take Over School Payroll

After lengthy negotiations, the Ministry of Education and the existing school payroll provider, Talent2, have settled both on the amounts payable by Talent2 towards the costs of remediating the Novopay service and a new operating model for the school payroll system. More>>

ALSO:

Employment: Labour Will Raise Minimum Wage, Restore Work Rights

A Labour government will raise the minimum wage $2 an hour to $16.25 and restore work rights to ensure the benefits of economic growth are shared fairly by all New Zealanders, Labour Leader David Cunliffe says. More>>

ALSO:

Police: Crewe File Review Released

No new evidence has come to light implicating any specific person as being responsible for the murders of Jeannette and Harvey Crewe... The review identifies there is a distinct possibility that Exhibit 350 (the brass .22 cartridge case) may be fabricated evidence, and that if this is the case, that a member of Police would have been responsible. More>>

ALSO:

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences. More>>

ALSO:

Greens: Plan To Protect Our Maui’s Dolphins

1. Protect Maui’s from being killed in the sanctuary set up to protect them... 2. Extend fishing protections to the entire Maui’s range... 3. Help protect the livelihoods of affected fishers by supporting them to adopt dolphin-safe fishing methods. More>>

ALSO:

Gordon Campbell: On National’s Electorate Deals

For all the talk yesterday from Prime Minister John Key about National being transparent about its electorate deals in Epsom and Ohariu, that transparency is entirely front-loaded. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news