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Key swings to the right with privatisation plans

26 January 2011

Key swings to the right with privatisation plans

John Key’s plan to privatise state assets will damage the economy long-term and hurt ordinary New Zealanders, said the Green Party today.

“The gloves are coming off. John Key’s speech today shows a swing to the right, and signals National’s plan to privatise state assets in the next term,” said Green Party Co-leader Russel Norman.

“Selling state assets to foreign corporations, which will inevitably happen under this plan, will drive up the current account deficit, send profits overseas and drive up costs for Kiwis.

“Our current budget deficit has been created by the Government’s tax cuts and poor quality spending. John Key is now using his mismanagement of the economy as an excuse to sell public assets and cut important social and environmental spending,” added Dr Norman.

“Selling off existing public assets is not comparable to the Air New Zealand situation where the Government stepped in to stop the collapse of essential economic infrastructure.

“The fact is that in a small country, like ours, we need state assets to drive innovation and investment in our economy.

“Public assets are also vital to prevent corporate monopolies that stifle innovation and drive up costs for ordinary New Zealanders, as we have seen in the banking sector.

“If the Government wants to create opportunities for Kiwi investors then it should look into State Owned Enterprises issuing investment bonds. This is a much better option than selling off the assets.

“John Key’s Government needs to invest in creating a prosperous economy that provides a fair go for everyone. Flogging off our assets to overseas corporations and cutting spending on essential services will not achieve this,” said Dr Norman.

ENDS

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