Parliament

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

 

Clark's bungling could write a blank cheque

Bill English National Finance Spokesperson

27 September 2001

Clark's bungling could write a blank cheque for Air NZ bailout

Prime Minister Helen Clark's inappropriate comments, aimed at influencing the behaviour of shareholders in Air New Zealand, could effectively force the Government to write a blank cheque for the bailout of the troubled airline, National's Bill English predicted today.

"The Government appears to have abandoned the idea of statutory management. If that's the case they will have to put additional hundreds of millions of dollars of taxpayers' money at risk, in order to avoid embarrassing Helen Clark," Mr English said.

"If they put the airline into statutory management now they would be effectively destroying the investments of the small shareholders who followed Helen Clark's inappropriate advice. That includes thousands of New Zealand mum and dad shareholders, whose investment in the airline would be wiped out.

"Helen Clark's comments, based on extensive inside information, have put the Government in a weak bargaining position. The Government will have real trouble persuading the banks, Singapore Airlines and Brierleys to put money in without the threat of statutory management.

"Having made the error she compounded it by sending Dr Cullen to blame the media for asking the wrong questions, in a classic example of shooting the messenger.

"It is important to save our national carrier, but that process should involve weighing up the options and acting decisively. Each week of dithering and bungling by the Government is pushing up the cost to the taxpayer," Bill English said.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Who Decides On The Priority List For Vaccines

During the past week, the nation has gone through a range of mixed feelings about south Auckland. Understandably, there’s been a hankering in some quarters to punish a few of the rule breakers who plunged all of Auckland back into lockdown…Yet alongside that impulse there also been compassion for the way that poverty and overcrowding make south Aucklanders extremely vulnerable to the spread of the virus... More>>


 




Government: PHARMAC Review Announced

The Government is following through on an election promise to conduct an independent review into PHARMAC, Prime Minister Jacinda Ardern and Health Minister Andrew Little announced today... More>>

ALSO:


Government: Main Benefits To Increase In Line With Wages

All measures of child poverty were trending downwards, prior to the COVID-19 lockdown, across the two years since year ended June 2018, Stats NZ said today. The COVID-19 lockdown in late March 2020 affected Stats NZ’s ability to collect data from households ... More>>

Government: Reserve Bank To Take Account Of Housing In Decision Making

The Reserve Bank is now required to consider the impact on housing when making monetary and financial policy decisions, Grant Robertson announced today. Changes have been made to the Bank’s Monetary Policy Committee’s remit requiring it to take into ... More>>

ALSO:


Covid-19: Auckland Back To Alert Level Three After One New Community Case Revealed

Auckland will move to alert level three for a week at 6am tomorrow morning after two new Covid-19 community cases announced this evening could not be directly linked to earlier cases, the Prime Minister has confirmed.
The rest of the country will move to level two.... More>>

NZ Initiative: New Report Highlights How Our Housing Crisis Could Worsen If We Don’t Act Now

If New Zealand politicians thought the housing crisis in 2020 was bad, the worst is yet to come, warns a new report by The New Zealand Initiative. In The Need to Build: The demographic drivers of housing demand , Research Assistant Leonard Hong ... More>>

Parliament: Kiwi MPs Among The “Most Educated In The World”

New analysis of MP qualifications reveals New Zealand’s Parliament is one of the most educated and highest qualified in the world, and significantly more educated than Australia’s. The research, by Mark Blackham of BlacklandPR and Geoffrey Miller ... More>>

The Dig: An Illogical Ideological Struggle

Dig beneath all the trade wars and the arguments to the effect that the USA should not permit China to achieve economic and technological superiority, or even parity, and you find the real reason behind the conflict... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels