Parliament

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

 

English all at sea on SOEs

David
CUNLIFFE
Finance Spokesperson

9 June 2011 MEDIA STATEMENT
English all at sea on SOEs

Finance Minister Bill English must come clean on the true price of selling our state-owned assets, says Labour’s Finance spokesperson David Cunliffe.

“In Parliament today Bill English admitted that Budget 2011 does not account for the loss of dividends resulting from the proposed and un-mandated asset sales --- but does book the revenue from those sales,” David Cunliffe said.

“His figures are sadly unreliable. Yesterday he asserted that SOEs had paid the government $350 million in dividends last year. In fact, the figure was $831 million, and Bill English can’t explain the half billion dollar discrepancy between his spin and the facts

“Nor can he explain why his Investment Statement predicts that selling assets will cost $200 million a year in lost dividends when, in fact, the assets National wants to sell have paid an inflation-adjusted average of $312 million a year over the past five years,” David Cunliffe said.

“In short, Mr English has booked the full value of selling assets he has no mandate to sell while failing to properly account for the cost of those sales in lost dividends, and he has no excuse for this.

“This is another dent in the credibility of National’s Budget, which also relies on $1 billion of savings from unspecified public service cuts, Treasury projections of tax revenue that are $4 billion higher than IRD’s projections, and rosy growth forecasts like those he made in his past two budgets, and which failed to eventuate.

“No wonder credit ratings agency Standard and Poors has kept the government on negative credit outlook,” David Cunliffe said.

“Labour will not be selling our state-owned assets, but we will present a responsible vision for growing our economy and jobs and owning our future.”

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Last Night’s Leaders Debate

Do political debates change voter intentions, and cause voters to switch sides? According to a 2019 Harvard Business School study conducted across 61 elections in nine countries involving 172,000 respondents, the answer would seem to be a resounding “No.” Political debates have little effect on voter behaviour, let alone on election outcomes. Crucially, the limited effect they do have does not involve a change in voters’ policy preferences... More>>

 

Government: More Border Exceptions For Critical Roles

The Government has established class exceptions for border entry for a limited number of veterinarians, deep sea fishing crew, as well as agricultural and horticultural machinery operators. “Tight border restrictions remain the backbone of the Government’s ... More>>

ALSO:

PM: Auckland At Bolstered Level 2, Rest Of Country Provisionally At Level 1

Pandemic alert levels for the whole country have been reviewed by Cabinet and Prime Minister Jacinda Ardern is announcing whether restrictions will be eased. More>>

ALSO:

Labour: Supporting Workers And Valuing Their Contribution

Making sure working New Zealanders are safe, healthy and that their contribution to the economy is valued is at the heart of Labour’s Workplace Relations Policy.
“This is Labour demonstrating its commitment to helping working New Zealanders by increasing sick leave, raising wages, protecting them while they are at work, growing jobs and investing in the economy,”... More>>

ALSO:

PREFU: Economy Doing Better Than Forecast

The Pre-election Economic and Fiscal Update released today shows that the near-term economic recovery has been stronger than the Treasury and many economists predicted at the May Budget, as the economy bounced back strongly out of lockdown... More>>

ALSO:


Electoral Commission: Candidate And Party Lists Released

17 registered political parties and 677 candidates will be contesting the 2020 General Election Nominations have now closed and the Electoral Commission has released the electorate and party list candidates for 2020 online at vote.nz . Advance voting ... More>>

National: Plan To Restore NZ’s Prosperity

National’s Economic and Fiscal Plan carefully balances the need to invest in infrastructure and core public services while also reducing tax pressure on Kiwi families and businesses. National Leader Judith Collins and Finance spokesperson Paul Goldsmith unveiled National’s ... More>>

ALSO:

NZ First: Party List

New Zealand First has a proven twenty-seven-year history of bringing balance and common sense to our government. Amid the continued setbacks of COVID-19 restrictions, New Zealand First has once again sustained its profile by selecting a strong team ... More>>

Election: Arriving Travellers In Isolation To Be Able To Vote By Telephone

Up to 5,000 people in managed isolation or quarantine will be able to vote by telephone in the general election and referendums after an amendment to electoral regulations last week. Chief Electoral Officer Alicia Wright says the Electoral Commission sought ... More>>

National: Investing In Our Children’s Future

A National Government will prioritise lifting achievement for all New Zealand children, no matter their background or ability, National Party Leader Judith Collins and National’s Education spokesperson Nicola Willis say. “Parents just want what’s best for ... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels