Parliament

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

 

PM's loose lips suspend Air NZ shares

Belinda Vernon National Transport Spokesperson

26 September 2001

PM's loose lips suspend Air NZ shares

Prime Minister Helen Clark's loose lips on Air New Zealand's future have forced the sharemarket to suspend trading on Air New Zealand shares today, National's Transport spokesperson Belinda Vernon MP said today.

"The Prime Minister's 'don't sell notice' yesterday was totally irresponsible and confirms how inept she and her Government are in dealing with business and the commercial world. Her comments that investors should hold onto their Air NZ shares push the boundaries of securities law and expose her naivety in business.

"After talking down the shares on Monday saying statutory management was a viable option, she then talked them up by urging investors to 'hang on' to shares. This is erratic and irresponsible behaviour.

"Given her obvious 'inside' knowledge about the Government's intentions with Air New Zealand her loose words test the principles of securities legislation which outlaws manipulation of markets in this way.

"Earlier this year Jim Anderton was exposed for his careless words about the viability of the People's Bank, opening the Government to potential litigation as he effectively guaranteed investment in the People's Bank. He was rapped over the knuckles.

"Now Helen Clark has repeated the faux pas urging investors to hang on to their shares. It is an abuse of her position to advise shareholders when she has inside information.

"In the last month the loose lips of Michael Cullen and Trevor Mallard have demonstrated on successive occasions the Labour-Alliance Government's failure to grasp the sensitivities of the market. Helen Clark has shown their shortcomings stem from the top," Belinda Vernon said.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Populism’s Changing Of The Guard, Plus A Soul Music Playlist

The weekend’s Newshub/Reid Research poll results - Act up to 11.1%, National up 1% but still sitting at only 28.7%, Labour down to 43%, the Greens up to 8.5% - shows that the combined centre right vote is still languishing nearly 12 points behind the combined centre-left vote, 45 months after the last centre-right government was voted out... More>>



 
 


Government: Offers Formal Apology For Dawn Raids
Prime Minister Jacinda Ardern has today formally apologised to Pacific communities impacted by the Dawn Raids in the 1970s.

Between 1974 and 1976, a series of rigorous immigration policies were carried out that resulted in targeted raids on the homes of Pacific families... More>>


Government: Bill Introduced To Protect Against Conversion Practices

Legislation has been introduced to Parliament to protect against practices intended to change or suppress someone’s sexual orientation, gender identity, or gender expression... More>>

ALSO:

Government: Welcomes Draft Report On The Retail Grocery Sector

The Commerce Commission’s draft report into the retail grocery sector is being welcomed by Government as a major milestone. “I asked the Commerce Commission to look at whether this sector is as competitive as it could be and today it has released its draft report for consultation,” Commerce and Consumer Affairs Minister, David Clark said... More>>

ALSO:



Human Rights Commission: Successive Governments Responsible For Massive Breaches Of The Right To A Decent Home

Te Kahu Tika Tangata / Human Rights Commission has today launched Framework Guidelines on the Right to a Decent Home in Aotearoa and announced that it will hold a national inquiry into housing... More>>



NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels