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

 

17 Year Sentences In Baby Moko Case: Attorney General On Plea Bargain

“The Crown’s decisions in this case, including the decision to accept the manslaughter pleas, were motivated by the need to secure convictions for this horrendous killing and to avoid the significant risk that either of the defendants could escape such a conviction because of evidential issues.” More>>

ALSO:

As Govt Cuts Lobby Anti-Smoking Group Funds: On The Nation - Plain Packaging Debate

Imperial Tobacco leaves open possibility of law suit against New Zealand government if plain packaging is introduced, as planned. Says it’s a “last resort” but “of course we will defend the right to use our brands”. More>>

ALSO:

No Rail For New Harbour Crossing: National Giving Up On Rail In Auckland

The National Government’s decision to scrap two planned rail lines in Auckland shows it is giving up on a city-wide rail network in Auckland, and on thousands of commuters who sit in traffic jams every single day, the Green Party said today. More>>

ALSO:

Gordon Campbell: On The Ombudsman’s Verdict On Paula Rebstock And Ian Rennie

Unfortunately, the brave and damning report by Ombudsman Ron Paterson on the “flawed” and “unfair” inquiry conducted by Dame Paula Rebstock into events at MFAT pulls back the veil on a far wider issue. More>>

ALSO:

Charities' Report: Stressed Families - Overstretched Services

“Like so many of the whānau and families they serve social service organisations are under huge financial stress. The support demanded from desperate people in communities is far outreaching the resources available.” More>>

ALSO:

Detention: Wellingtonians Protest Treatment Of Refugees

Peace Action Wellington (PAW) and around 50 Wellingtonians blockaded the Australian High Commission, creating a symbolic detention centre to protest the Australian Government's policy of mandatory offshore detention for refugees and asylum seekers. More>>

ALSO:

Diver's Alarums: Breach Means Training Provider Must Repay $1.47 Million

The New Zealand School of Outdoor Studies is to repay $1.47 million (GST-exclusive) to the Tertiary Education Commission (TEC) following an investigation which showed that some student enrolments between 2009 -2014 could not be validated and that courses were under-delivered against their agreement with the TEC. More>>

ALSO:

Education: Government Plans Suggest Bulk Funding Return

Plans by the Government to return to bulk funding are likely to see increased class sizes and schools most in need missing out on much-needed resources, Labour’s Acting Education spokesperson Grant Robertson says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news