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


Solid Energy sale another disaster for West Coast

Solid Energy sale another disaster for West Coast

Hocking off shares in state-owned assets while giving no assurance that those shares will remain in local hands would be considered treachery in any other country, yet it is exactly what John Key is doing here, says West Coast-based Labour MP Damien O'Connor.

"Yesterday John Key confirmed the sale of Solid Energy shares, while at the same time giving no guarantee that those shares will remain in the hands of New Zealanders.

"New Zealanders already own Solid Energy. Why would we want to flog off one of the West Coast's biggest employers?

"Solid Energy executives and the Government are now focused on a sale process and potential new shareholders. This is not about doing something for the good of the country. It is about handing over a strong performing company to a few wealthy New Zealanders who will inevitably sell it on to foreign owners for a handsome profit," Damien O'Connor said.

"Today we hear Shanxi Coal, a large Chinese company, is a joint bidder for Pike River Company assets. That's a clear indication of the very real interest overseas investors have in our valuable coal assets.

"The fact that this successful and growing Chinese company is state owned should tell us why Kiwis should continue to own Solid Energy.

"Mines opened and developed by Solid Energy with strong support from the last Labour Government, have brought huge benefits to the West Coast.

"Now John Key and his National party colleagues want to sell those assets to a few wealthy people who will be able to sell them on to the highest bidder.

"Every West Coaster should understand what this will mean. In any other country it would generate a huge public backlash; it would be considered treachery.

"Labour is totally committed to keeping New Zealand assets in New Zealand hands, which is what Kiwis also want," Damien O'Connor said.

Authorised by Damien O'Connor, MP, Parliament Buildings, Wellington

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Compelling Case For Meatless Meat

Talk about living in a bubble. As vegetarianism and veganism become normalised – there are more options on restaurant menus! - it can be easy to think that the whole world is gradually giving up on meat. Alas, the reverse is true. Americans for instance consumed 100 kilograms of meat and poultry in 2018, up from 75 kilograms in 1960, according to the US Department of Agriculture figures... More>>


Pay Policy: CTU Public Service Unions Meet With Public Service Minister

The Council of Trade Unions and affiliated public service unions, met with the Minister for the Public Service Hon Chris Hipkins this afternoon to discuss the pay expectations of those working in our public services. CTU President Richard Wagstaff said it was ... More>>

Government: Further Action Against Gang Crime

The Government will make it illegal for high risk people to own firearms by introducing Firearms Prohibition Orders (FPOs) that will strengthen action already taken to combat the influence of gangs and organised crime to help keep New Zealanders and their ... More>>


Maori Party: Whakatōhea High Court Decision

“We applaud the Whakatōhea High Court case that has now set a precedent for Māori rights and interest in their foreshore and seabed. It’s an outstanding decision because the Court recognises all reclaimed lands with significant and boating traffic” ... More>>


PM: Statement On The Speaker And Annual Review Debate

“The serious issue of alleged sexual assault and harassment at Parliament was poorly managed and inappropriately politicised last night. The tone of the debate did not reflect well on Parliament as a whole,” Prime Minister Jacinda Ardern said. ... More>>

Parliament: Mallard Fails To Give Taxpayers A Straight Answer

Trevor Mallard has confirmed he is unfit to be Parliament’s Speaker by failing to answer several important questions relating to the false rape accusation saga that cost taxpayers more than $330,000, Shadow Leader of the House Chris Bishop says. ... More>>

Local Government: Independent Review To Explore Future

Local Government Minister Nanaia Mahuta says an independent review of local government will explore how councils can maintain and improve the wellbeing of New Zealanders in the communities they serve long into the future. More>>


PM Ardern And PM Morrison: Commencement Of Two-Way Quarantine-Free Travel Between Australia And New Zealand

Joint Statement by Prime Ministers Scott Morrison and Jacinda Ardern Commencement of two-way quarantine-free travel between Australia and New Zealand Today, Australia and New Zealand have fulfilled their commitment to establish two-way quarantine free ... More>>




InfoPages News Channels