Rt Hon Winston Peters

New Zealand First Leader

Member of Parliament for Northland
18 AUGUST 2015

KEY BREAKS PROMISE, PUTTING ASSET SALES CASH INTO ASIA

Prime Minister John Key promised in the 2011 election campaign the money from state assets sales would be for New Zealand hospitals, schools and roading – he has broken that promise and instead will spend a large amount in Asia, says New Zealand First.

“The asset sales money went into the Future Investment Fund, launched in 2011, but the government is using it to pay a $140 million contribution to the recently announced Chinese-led Asian Infrastructure Investment Bank,” says Leader and Member of Parliament for Northland Rt Hon Winston Peters.

“Mr Key needs to look New Zealanders in the eye and explain this. He was unable to when questioned in Parliament today, bizarrely insisting this was an asset for New Zealand. This is so far from his 2011 election statement. Mr Key promised Kiwis, many who were opposed to the sales, that his fund would be spent on hospitals, schools and roads as ‘the payoff’ for selling public assets.

“There will be hospitals, schools and roads but not in New Zealand, but in Asia. Maybe Mr Key got so enthused about China that he’s confused Beijing with Balclutha.

“Answers to a New Zealand First Official Information Act request show how badly Mr Key’s government has broken faith with New Zealanders. He has not told Kiwis the truth.

“The government has agreed to put $140 million up front into the China bank, and it has agreed to have half a billion dollars, $561 million in fact, available that can be called in.

“At $700 million this is a vast sum of money that could be used to invest in such infrastructure as cell towers, roads and rail and we could set up provincial New Zealand for growth when the recovery kicks in.

“To New Zealand First infrastructure development, like charity, begins at home,” says Mr Peters.

ENDS

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