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

 

PARLIAMENT TODAY:

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Post-Cab Press Conference: Foreign Buyers Register, TPP And Serco

At a press conference today in Wellington, John Key discussed the foreign buyers register as well as the TPP and Serco. Key was questioned on whether a stamp tax might be used as a tool to deal with foreign buyers. More>>

ALSO:

Lyndon Hood Satire: Serco To Outsource Prison To Public Sector

In response to high-profile failings, multinational omnicorporation Serco will introduce public management in its prison system. Serco's New Zealand manager, speaking on condition of anonymity, has announced plans for managers from the Department of Corrections to run the Mt Eden Correctional Facility. More>>

National Party Conference: Plans To Nudge Immigrants Towards Regions

The Government will introduce a package of immigration measures aimed at improving the spread of workers, skills and investment across New Zealand, Immigration Minister Michael Woodhouse says. More>>

ALSO:

Corrections: Serco Relieved Of Control At Mt Eden Prison, Retains Contract

Multi-national private prison operator Serco has been forced to hand back control of Auckland's Mt Eden remand prison to the Department of Corrections, which has used a 'step-in' clause in its contract with Serco following a string of increasingly serious allegations about contraband, prisoner injuries and a death. More>>

ALSO:

Other Experiments: Failing Charter School Stays Open 'For Kids'

Education Minister Hekia Parata says she has given Te Pumanawa o te Wairua in Northland a chance to continue operating because of her concerns about finding other educational opportunities for its students. More>>

ALSO:

Prisoner Voting Ban: Court Finds Law Inconsistent With Bill Of Rights

Greens: National needs to immediately bring legislation to the House which lifts the ban on the right of prisoners to vote, said the Green Party. The High Court today ruled that the Electoral (Disqualification of Sentenced Prisoners) Amendment Act 2010, which stops prisoners from voting, is inconsistent with the Bill of Rights Act. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news