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Leak Reveals National Plans to Privatise Transpower

Leak Reveals National Plans to Privatise Transpower

NZ First says a leaked January 2017 presentation to Transpower by Swiss Investment Bankers UBS reveals the National Government intends to privatise the National Grid.

“We have evidence National is lining Transpower up for privatisation in 2018 if given half a chance,” says New Zealand First Leader and Member of Parliament for Northland, Rt Hon Winston Peters

“A leaked UBS presentation to Transpower scopes the market, investor appetite and even suggests how stakeholder concerns could be managed. UBS has form with Transpower, having arranged for Transpower a Cayman’s Island based financing deal which only ended in recent years.

“Kiws are being seriously conned. Sir John Key promised “no more asset sales after Genesis” while Bill English told media in November 2013 that everything which could be sold had been. Even Mr Joyce said in November 2013 "we will be transparent" about resuming asset sales.

“National simply can’t be trusted.

“What else do you expect from Mr English’s best mate and Transpower chairperson, the Hon Tony Ryall? As National’s Prince of Privatisation, Mr Ryall is proud to have “privatised or partially privatised $7.7 billion worth of assets” with Mr English.

“Mr Ryall was appointed to the Transpower Board against Treasury advice last year but then was fast tracked into the chair’s seat. Is it any wonder the leaked UBS document does not ask “if” Transpower will be sold “but form of interest to sell”.

“An ‘asset sales’ slush fund is proposed for the $2bn plus that this could net and UBS say it could happen “As early as August 2017” but “likely in 2018 and beyond”.

“Funnily enough we cannot find a single mention of this on National’s website. What else is on National’s secret 2018 chopping block, if New Zealanders ignore this deceit?,” says Mr Peters.

ENDS

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