5 July 2013

$17 million added to asset sales bill

The cost of National’s asset sales has grown by a further $17 million bringing the total costs that have been revealed to the public to $72 million, Green Party Co-leader Dr Russel Norman said today.

The latest Government Financial Statements reveal that National spent $17 million in “direct sales costs” on the sale of Mighty River Power. This is in addition to $25 million on the bonus share giveaway, and $30.3 million in costs to Treasury, the SOEs, and other branches of government up to 31 March 2013.

“The cost of National’s asset sales programme has been outrageous,” said Dr Norman.

“John Key has wasted at least $72 million on his asset sales so far, including another $17 million revealed today.

“The $72 million plus of public money that Mr Key has wasted on asset sales could have been used to fund nurses in schools, or insulate homes, or to help build a second internet cable.

“There is a huge list of worthwhile projects that are crying out for government investment but, instead, National wastes our money on asset sales that Kiwis don’t want.

“And for what? The Government has lost a valuable revenue source while the Kiwis who Mr Key encouraged to put their savings into Mighty River shares have lost tens of millions of dollars so far.

“Kiwis don’t want the Key Government spending their money to sell their assets. It’s time for National to call a halt to this wasteful policy,” said Dr Norman.

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