Parliament

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

 

Finance Minister Disowns Rail Network Revaluation

“Under questioning at the Finance and Expenditure Committee this morning, Finance Minister Grant Robertson disowned the dubious revaluation of Kiwirail in last year’s Government Financial Statements”, says ACT Leader David Seymour.

“Those Financial Statements recorded a $5.3 billion dollar increase in the value of the rail network, inflating the Government’s surplus from $2.2 billion to $7.5 billion. The increase resulted from recording the estimated cost of replacing the rail network rather than the value someone might actually pay for it.

Under questioning from Mr Seymour, the Minister said: ‘Let me be clear, I didn’t advocate for revaluing the rail network this way’.

“The Minister would not explain whose idea it was to revalue the rail network, and would not endorse the $7.5 billion dollar figure as the Government’s real surplus. He even went as far as to say ‘there is no real surplus.’

“Under further questioning, Treasury officials said they could not measure what benefit the public would now get from the rail network, only what it would cost.

“A rail network is an important asset, but the Government’s treatment of it has left us with no idea what value it provides, and no incentive for its operators to add value, given there’s no longer any attempt to even measure its value.

“It’s understandable that the Finance Minister wants to distance himself from this decision. The difficulty is that the taxpayer cannot.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Coronavirus: On The Addiction To Chinese Student Fees, And A Possible Future For RNZ Concert

Last week, Australian PM Scott Morrison extended its ban on foreign visitors from or passing through from mainland China – including Chinese students - for a third week. New Zealand has dutifully followed suit, with our travel ban extending until next Monday at least, presumably dependent to some extent on what Morrison decides to do later this week.
Our universities are now asking for an exemption to the travel ban for their Chinese students, who would still, the universities assure us, be subjected to strict quarantine procedures upon arrival. Given how the inability of the university system to care for its own students on campus made world news last year, that promise may not do much to reduce the coronavirus fears among the wider New Zealand public. More>>


 

Water Woes: Wellington Reflects National Problem

Water utilities right across the country face major challenges to upgrade and maintain their underground three waters network. Water New Zealand’s Technical Manager, Noel Roberts says Wellington’s waste water woes are not unique to the capital city... More>>

ALSO:

2020 And Beyond: National’s Economic Plan

National Leader Simon Bridges has today outlined National’s economic plan heading into election 2020. “National understands the economy and how it impacts on New Zealanders day to day lives... More>>

ALSO:

Abortion Legislation Committee: Abortion Bill Report Presented To The House

The Abortion Legislation Committee has presented its report on the Abortion Legislation Bill to the House. A copy of the report is available here. The bill seeks to have abortion services provided like other health services... More>>

ALSO:


Local Government NZ: New Report A Pathfinder For Affordable Housing

A report released today by LGNZ provides a roadmap for councils finding their way through the complex policy, regulatory and market tools available to help enable more affordable housing developments for New Zealanders. With demand soaring, rents ... More>>

ALSO:

“Can Do Better”: Sallies Election Year Report Card

This year’s State of the Nation report by The Salvation Army offers a mixed bag of outcomes, with some significant headline progress - but also an ambitious list of “can do better”. Government action is delivering limited improvements... More>>

ALSO:


 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels