Media Release, Wednesday, 24 October 2012

Voter Apathy Controls $2 Billion Vector Asset

With only two days remaining before postal voting closes for New Zealand's third largest election, 86% of eligible voters have not had their say in who will control shares in their $2 billion power asset, the Vector lines company.

Statistics from the Returning Officer show that just over 14% of eligible voters have cast their ballots. Unless voters return their papers in droves over the next two days, the final turnout will be scarcely higher than the dreadfully low 16% of 2009.

David Shand, spokesperson for the ‘Your Power Team’ candidates, says “The current C&R trustees of AECT have failed to promote understanding of the Trust’s role and failed to encourage a higher voter turnout. It is almost as if they seek to retain their control of the AECT by encouraging voter apathy. The AECT election, with 287,000 eligible voters, is New Zealand's third largest election after the general election and the Auckland council elections. It will be a sad commentary on the state of our democracy if we cannot achieve a much higher turnout than in 2009 for control of this $2 billion asset.”

Voter apathy appears to reflect lack of knowledge about AECT and its 75% ownership of the lines company Vector Ltd. It is this ownership that enables the AECT to pass on a $320 dividend from Vector.

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