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

 


More asset sale slush fund spending revealed

Clayton Cosgrove
SOEs Spokesperson

4 July 2014

More asset sale slush fund spending revealed

Rather than paying down National’s record $60 billion debt as promised, Budget documents reveal the asset sale money is still being used as a Government slush fund, Labour’s State-Owned Enterprises spokesperson Clayton Cosgrove says.

“It is outrageous the public were kept in the dark about what hundreds of millions of taxpayer dollars raised from selling the family silver has been spent on.

The grab-bag of spending identified in the documents includes:
• A marine operator safety system
• A $23 million subscription to the World Bank
• ‘Cashing up’ private sector R&D losses for Inland Revenue
• Census 2018
• The TVNZ archive
• Capital work for Parliamentary Services
• Implementing the Insolvency Practitioners Bill
• Paying for the IRD to comply with the US Foreign Account Tax Compliance Act
• Fixing the Aratere ferry

“The Government conveniently neglected to identify these items in the May Budget documents.

“Bill English and Tony Ryall need to come clean over where this money has gone.

“Another insult revealed in the documents is that because asset sales came in well over a billion dollars short of target, the Government was advised to ensure its spending was justified. It was encouraged to defend it to the taxpayer as value for money.

“Yet Treasury found the initiatives had ‘little alignment with improving economic growth’.

“The truth is asset sales are being used to cover up the $4 billion-plus hole in revenue caused by the Government’s 2010 tax changes.

“The asset sales programme was an economic disaster which is still costing taxpayers billions and delivering little in return,” Clayton Cosgrove says.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Human Rights Commission: Urgent Need For Action On Seclusion And Restraint

A new independent report has outlined a number of serious concerns about New Zealand’s seclusion and restraint practices, says the Human Rights Commission...

Chief Human Rights Commissioner David Rutherford says that while the report makes for sobering reading, the focus should now be on how the recommendations can be used to reduce the occurrence of seclusion and restraint in New Zealand and, in circumstances where it is necessary, to improve practices. More>>

 

$11bn Capital Spend, New Debt Target: Steven Joyce On Budget Priorities

First, delivering better public services for a growing country – providing all New Zealanders with the opportunity to lead successful independent lives... And finally, we remain committed to reducing the tax burden and in particular the impact of marginal tax rates on lower and middle income earners, when we have the room to do so. More>>

ALSO:

JustSpeak Report: Bail Changes To Blame For New Billion Dollar Prison

In 2013 criminal justice spending was falling and the Government was mulling over what to spend the money on. 3 years later there are 10,000 people in prison and a new billion dollar prison is announced. More>>

ALSO:

Asylum: Dunne Accepts Hundreds Of Postcards On Refugee Categories

Minister Peter Dunne today accepted over 800 postcards calling for convention refugees to have the same entitlements as quota refugees... The campaign has been run with ActionStation together with LUSH Cosmetics, with postcards being signed in stores around New Zealand. More>>

ALSO:

Reshuffle: PM Announces Changes To Ministerial Portfolios

Prime Minister Bill English today announced the appointment of Gerry Brownlee as Minister of Foreign Affairs, Nathan Guy as Minister of Civil Defence, Nikki Kaye as Minister of Education and Mark Mitchell as Minister of Defence. More>>

ALSO:

Q+A Transcript: CTU Call For 'National Standards' On Wages

‘If you look at countries who do better than us, who pay wages better, who have more competitive industries, more successful economies, they have systems where there are national standards.’ More>>

ALSO:

Energy: Greens Launch Plan For Cheaper And Cleaner Electricity

$112 million for winter warm-up payments to help low-income households cover their power bills • setting a goal for 100 percent renewable electricity by 2030 (in average hydrological conditions) • an investigation into the electricity wholesale market. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news