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The Standard

Key says ‘damn the torpedoes’ on asset sales

Written By: - Date published: 7:30 am, October 30th, 2013 - 44 comments
Categories: privatisation, referendum - Tags:

The asset sales have been an unmitigated failure. They’ve raised less money than expected, they’ve cost more than twice as much as National said they would, no ‘mums and dads’ have shown up to buy the shares, and the public is waiting for its referendum. Now, it turns out that Treasury warned Key not to flood the market but Key plans to keep on flooding it.

It’s pretty much common sense from the Treasury (which is something of a revelation in itself). They told National: ‘look, if you’re going to sell 3 big electricity companies into a sharemarket that is already heavy on electricity companies, for God’s sake don’t do them all at once, the market can only swallow so much at a time; rush it, and you’ll get less Kiwi ownership and less money for the Crown’. Specifically, Treasury said don’t sell more than $1.5 billion every 12 months and spread it over 3 to 5 years.

Well, Key and co went ahead and sold two companies that were meant to be worth nearly $5 billion in just six months. The result: $1.3 billion less than thought and a fraction of the expected ‘mum and dad’ investors.

Of course, Key’s made a Prime Ministership out of ignoring all common sense and repeatedly failing in the pursuit of ideology, so he’s ignoring the lessons of Mighty River and Meridian, and threatening to sell Air NZ and Genesis in the next six months.

As Kiwi citizens, and the owners of these companies, we’ve got to send a strong message to Key and National in the referendum. A strong ‘no’ vote will tell them that, if the asset sales continue, National will get slaughtered in the election. That won’t matter to Key, he knows he’s odds on to lose and he’ll be on the next flight to Hawaii when it happens so he doesn’t care how big he loses, but it could force more level heads in National to rope him in.

44 comments on “Key says ‘damn the torpedoes’ on asset sales”

  1. Old Irascible 1

    Meanwhile, Hungary’s right wing Government says “We’ll take back the state assets for the public good.”
    http://theirasciblecurmudgeon.blogspot.co.nz/2013/10/on-wisdom-of-selling-state-assets-right.html

  2. tricledrown 2

    Key will sell the other half of the power companies.

  3. Tracey 3

    He still has 12 months…

  4. vto 4

    I laughed yesterday when I heard the boss at Meridian state that the company’s governance will improve to best practice because it is now a listed public company….

    …. is it worth pointing out Chase Corp? Dominion Finance? Equiticorp? Feltex? Pike River? Where does this list end?

    …. what is it about these so-called “captains of industry” that they flick their blinkers to shut so often and on matters of such consequence?

    …. wait for Meridian to get into trouble…. and need taxpayer support ….. ffs …. idiots

    • Copperhead 4.1

      You missed the elephant in the room, Enron. Public ownership did that one very well…

      • Tat Loo (CV) 4.1.1

        Its the same old meme that private is somehow better than public. For the privateers and corporate monopolists that is of course the case. Just check out the rape and pillaging caused by the listed UK energy companies.

    • miravox 4.2

      “… the company’s governance will improve to best practice because it is now a listed public company….”

      You heard the one about the train company operating the east coast line in the UK that was privatised and couldn’t provide a profitable service?

      It went bankrupt, was re-nationalised, and with the profit requirement of it’s Bermuda-registered holding company removed, has since then paid more money back into public funds that any of it’s private pseudo-competitors. It has a much improved (and much better) safety record, punctuality and customer satisfaction ratings than all the private operators.

      So good in fact, that the Tories are going to re-privatise it. Two of the top bidders are majority-owned by the French state, and one a wholly owned subsidiary of the German government-owned rail operator, but somehow the British state can’t own it.

      Hilarious.

      Watch out Air NZ.

      • halfcrown 4.2.1

        Thanks for that miravox, as I said not long ago, when Air New Zealand was “privatised” and the major share holding was bought by Briely Investments, we were told that it had to be privatised otherwise in a decade it would be a third rate operator with debts of 500 million. After a decade of privatisation, and bungy jumping by the spivs from the right, in 2001 the then Clark government had to re nationalise Air New Zealand as it was a third rate carrier with debts of 880 million. Now they are out of the shit Key wants to sell it off to his spiv mates AGAIN.

      • Francis 4.2.2

        Yep, there’s two ways that companies go after privatisation:

        1) In the case of some SOEs, the new owners milk them for all they have while failing to fund essential maintenance. After several years, the privately owned company is on the verge of collapse with its asset near ruin (the railways are the best example of this, but I’m sure similar things have happened to other companies). Eventually, the government is forced to buy them back if they stand any chance of surviving.

        2) The companies, which were performing reasonably well under public ownership, then go into the private sector and continue to perform reasonably well. However, instead of the profits going to the public, they go into the hands of a few (usually overseas) owners or companies. These companies are often Monopolies, Duopoly, or Oligopolies, so private ownership also allows the companies to forego their social responsibilities and instead dramatically increase prices (and thus increase profit margins). Examples of this include Telecom and the power companies.

        Either way, the public looses out. Particularly in the long term.

        I also have to ask, what’s the difference (in terms of the way the company is run) between public and private ownership? Was the SOE model not designed to effectively be a publicly owned company run like a private company? If the trouble is supposed to be with the management of the company, what’s to stop the government simply restructuring the management while retaining the entity of the dividends?

        • Tat Loo (CV) 4.2.2.1

          I also have to ask, what’s the difference (in terms of the way the company is run) between public and private ownership? Was the SOE model not designed to effectively be a publicly owned company run like a private company? If the trouble is supposed to be with the management of the company, what’s to stop the government simply restructuring the management while retaining the entity of the dividends?

          Actually, nothing.

          In some cases, when shit in the private company has gone real bad, statutory receivers or similar are called in to get things back on an even keel.

          The “private companies are run better” canard was set up by the neolibs (along with bullshit like “market discipline”) and left wing/progressive elements never pushed back against it adequately.

        • Draco T Bastard 4.2.2.2

          2) The companies, which were performing reasonably well under public ownership, then go into the private sector and continue to perform reasonably well. However, instead of the profits going to the public, they go into the hands of a few (usually overseas) owners or companies.

          Telecom: The $17b of profits went into private pockets and now we get the honor of paying even more taxpayer dollars to put in place the network that the $17b should have paid for. It’s really nothing short of legalised theft.

          I also have to ask, what’s the difference (in terms of the way the company is run) between public and private ownership?

          These days, nothing – even the dead-weight loss of profit is the same.

          Was the SOE model not designed to effectively be a publicly owned company run like a private company?

          Yes it was and, generally, speaking, it’s doing that which is, of course, why we’re all worse off.

          If the trouble is supposed to be with the management of the company, what’s to stop the government simply restructuring the management while retaining the entity of the dividends?

          Nothing but it’s not management that’s the problem that Tories and other capitalists have the problem with. What they’re really concerned about is those profits going to the government rather than them.

          The grip of privatisation on our vital services has to be broken

          Privatisation is a failed and corrosive model. In Britain, it has combined with a determination to put up any asset up for sale to hollow out the country’s industrial base to disastrous effect. If Britain is to have a sustained recovery, it needs a genuinely mixed economy. The political and corporate elite have run out of excuses.

          The same can be said of NZ.

          • TheContrarian 4.2.2.2.1

            “The $17b of profits went into private pockets and now we get the honor of paying even more taxpayer dollars to put in place the network that the $17b should have paid for. It’s really nothing short of legalised theft”

            This assumes that the 17b would have gone in totality to the network. An assumption, nothing more.

            • Draco T Bastard 4.2.2.2.1.1

              A reasonable assumption considering that that was exactly what was happening to Telecom’s surplus before the sale – as I’ve told you before. Sure, governments probably would have fucked with that, especially the 1990s National government, but that still would have shown the dead-weight loss of profit.

          • miravox 4.2.2.2.2

            A great article by Seamus Milne there, Draco

            This bit, too:

            the costs of privatisation have created a powerful counter-momentum in Europe (and even more so in Latin America) to bring services, resources and utilities back into the public sector: water in France, power in Germany, and transport in Britain (Newcastle is currently attempting to take back bus routes). In September, the people of Hamburg voted to bring back the power supply into municipal ownership. Berlin is set to follow suit this coming Sunday.

            Of course, where I am in this far-left (according to some) outpost of Vienna, public utilities still remain in public hands. A referendum this year on the topic overwhelmingly rejected selling them.

            The sale of public utilities and services is flawed ideology, the NZ public knows it, but accepts it anyway. Strange – people must have lots of money to burn.

            • Tat Loo (CV) 4.2.2.2.2.1

              Or too much trust in the Government of the day.

              • miravox

                Yep, and that’s even crazier. Governments need to be challenged not to misuse the power the public has entrusted to them. Not trusted unreservedly.

                • Tat Loo (CV)

                  And that curiously, is supposedly the role of the news media and of journalism: to constantly challenge those in power and those in official positions.

            • Draco T Bastard 4.2.2.2.2.2

              The sale of public utilities and services is flawed ideology, the NZ public knows it, but accepts it anyway. Strange – people must have lots of money to burn.

              I don’t think that they accept it. I think that they feel powerless to change it. Both major parties have been selling off assets and only a minor party or two, which people don’t have full trust in, are saying that they’ll renationalise.

    • Draco T Bastard 4.3

      what is it about these so-called “captains of industry” that they flick their blinkers to shut so often and on matters of such consequence?

      Because they believe themselves to be better than anyone else. The failures that we see in the private sector is proof that they aren’t.

      • hoom 4.3.1

        “Because they believe themselves to be better than anyone else.”
        Don’t forget: Rapacious self serving sociopaths.

  5. ghostwhowalksnz 5

    You gotta think think who is pushing this policy forward and would National benefit financially before the next election from ‘selling the lot’

    • One Anonymous Knucklehead 5.1

      Depends how many of them are capable of taking the long-term view. Key is in it for the short term and can expect huge rewards from his clients for transferring our wealth into private hands. These rewards will be delivered offshore, so he won’t even have to worry about the potential for vilification and contempt every time he shows his face in public.

      Visiting performers are often amazed by our openness, at how ridiculous their bodyguards look on Queen St. Even Muldoon was eminently approachable in public, (anecdotally) even at home. Our Prime Minister feels differently; he travels with security because he’s stealing from us and he knows we know.

      • Quincy 5.1.1

        I recall during the Muldoon era while driving my Morris Minor along the quay in Wellington I passed Muldoon’s limo (no doubt carrying him from the airport to parliament) parked up on the roadside with his driver out helping a woman to change a wheel.

    • Draco T Bastard 5.2

      They probably will but that’s not why they’re selling any assets. They’re selling to increase the profit for the private owners. That extra profit comes from our pockets.

      Then there’s what happens once everything is privately owned as it once was under the aristocracy.

    • SpaceMonkey 5.3

      Possibly some in National will do well but John Key’s bankster mates and hedge fund operators will do much better. That National might contemplate a sell-the-lot firesale is a indication to me that financial collapse might be closer than many think.

  6. fambo 6

    Looking on the bright side, the PM signalling that he plans to sell off the rest of the assets in the hurry must increase the motivation for people to vote in the referendum, and (hopefully) reduce National’s chances of winning the next election.

  7. Sable 7

    There’s an assumption here I find interesting but naive, that is, that Keys is operating in the interests of the New Zealand people when in fact the only people he is interested in is himself and his well heeled mates…

  8. karol 8

    Steve Baron: another referendum, another ignored result, on the sham of NZ democracy.

    It is easy for political pundits and politicians like Whanganui MP Chester Borrows to suggest people are not voting because “we are all a pretty apathetic bunch”, but a rational voter is quite justified in coming to the conclusion that voting is a waste of time. Maybe we expect more from our political system than casting one vote every three years and when we are not given the opportunity to mould our own destiny in specific referendums, we give up in disgust? Democracy is not just about “elect me, I know what’s best for you”, it’s about having a say on the real issues that often affect us directly. The same can be said when it comes to conscience votes in Parliament – who cares what John Key or Chester Borrows thinks? What is important is what the majority of their constituents think.

    The Government is not taking our democracy seriously. So, all you politicians down in Wellington, don’t belittle us by denying us our democratic rights and do not assume we are apathetic and ill-informed. Dwell on the words of President Thomas Jefferson: “I know of no safe depository of the ultimate powers of the society but the people themselves; and if we think them not enlightened enough to exercise their control with wholesome discretion, the remedy is not to take it from them, but to inform their discretion by education.”

  9. Rodel 9

    Be interesting to know which mom and dad politicians bought, at bargain prices, the assets that we used to own. Is there a way to find out? If its a blind trust thing I guess not.

  10. captain hook 10

    I’m getting really pissed off with the noo noo heads who think the share price is the defining issue of the asset sales.
    Its the future income stream that is important and where the payoff for National is.
    wrangling over the share price is just a red herring that lets National completely off the hook and lets them know that the proletariat is still ignorant of how the whole thing works.
    Wake up.

    • tc 10.1

      +1 and the insertion of a minority shareholding that can have a big say in dividend V reinvestment, minority interests being looked after are enshrined in our corporate laws.

      They couldn’t care less if the price was multiples of what is it as these are long term money spinners.

      The low price just makes this an even better deal for the nats backers.

    • Rob 10.2

      But that is exactly how a share is valued Captain , its value is determined by future generated cashflows.

      • framu 10.2.1

        whatever happened to demand and supply?

      • tc 10.2.2

        Value is not the same as price which captain is referring to or ‘Historical Cost’ in accounting terms.

        Supply and demand drive price but that’s no indication of value…..hands up who thinks Zero are worth what that caps out at with it’s actual customer/revenue/cost structure.

        One fund manager I recall called a sharemarket a hysteria index.

  11. Roy 11

    [pedant mode] David Farragut’s famous, foolhardy order to ‘Damn the torpedoes!’ actually led to a successful naval invasion of Mobile Bay, so you might want to reconsider the headline of this article. It isn’t really appropriate since Key’s asset sales program is a disaster [/pedant mode]

  12. Sawitt Cuming 12

    Key is only doing what he is told by his bosses at the Federal Resrve and his mates on Wall Street and in the corporations. Once we elected our own leaders but those days have long gone. Anyone not preoccupied with genuflecting at the Mall or otherwise “having fun” would have joined the dots and come to this conclusion for themselves ages ago.
    Iceland and Hungary are showing the way but Key has to go, the sooner the better and back to Wall Street for preference.

  13. Peter Freedman 13

    The obsession of conservatives in selling off everything that moves would be funny if it wasn’t so serious.

    • Tat Loo (CV) 13.1

      They aren’t conservatives, they are neoliberals. True conservatives conserve stuff. Plenty of National voting Southland conservatives hate the fact that our nation’s assets are being sold off.

  14. Ennui 14

    I have said it so often before so fekkin often: this whole “sale” issue is NOT about funding government. If the Left debates it on that basis they will get screwed because they are using the language and argument set out by their opponents.

    This debate is about one very small class of people who realise that the future is energy poor laying their hands on a strategic asset that produces power. This is about the rich positioning themselves as energy barons renting power to us serfs and peasants. Todays price and return are irrelevant, in fact the extreme Right are probably delighted with the debate to date being about “government funding etc”.

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    There’s a Herald summary here. I’ve been saying for a while that ‘neoliberalism’ – ie a belief in the efficacy of free markets, the distortionary evil of taxes and benefits and the minimalisation of the state – is dead. There… ...
    DimPostBy danylmc
    2 days ago
  • What if your MP was decided on the flip of a coin?
    The provincial election in the Canadian province of Prince Edward Island finally came to an end a couple of days ago when its last MLA was declared elected following a judicial recount.(What - you didn't know that Prince Edward Island… ...
    PunditBy Andrew Geddis
    2 days ago
  • Gordon Campbell on Budget 2015
    From the outset, the slogan for yesterday’s Budget – “The Plan Is Working” – begged to be mocked. There’s actually a plan for the national economy? Who knew? And its been working for whom, exactly? Not for families in poverty,… ...
    2 days ago
  • Building better connections between Asia and the Pacific
    Speech – New Zealand Government I am delighted to have the opportunity to speak at this International Conference on the Future of Asia.22 May 2015 Building better connections between Asia and the Pacific (speech delivered to 2015 Nikkei Forum, Tokyo,… ...
    Its our futureBy ScoopBlogPush
    2 days ago

  • How many victims missing out on protection?
    Hundreds of domestic abuse victims could be missing out on getting protection orders because they are unable to get legal aid, Labour’s Justice spokesperson Jacinda Ardern says.“In the last two years some 351 people who applied for legal aid for… ...
    7 hours ago
  • Government kicks hardworking whanau
    A major incentive to help young Kiwis and people on low incomes to start saving has been kicked out from under them with the National-led Government ramming through short-sighted legislation under Urgency today, Labour’s Maori Development Spokesperson Nanaia Mahuta says.… ...
    7 hours ago
  • Speculator tax political stunt gone wrong
    Bill English’s admission he doesn’t know whether National’s new speculator tax will have any effect shows last weekend’s announcement by the Prime Minister was a desperate political stunt, says Labour’s Housing spokesperson Phil Twyford. “This Government is so desperate to… ...
    11 hours ago
  • The value of parenting
    This week, as part of the Budget, the government introduced a bill to address child poverty. This bill will require parents receiving income support to look for part-time work once their youngest child is three years of age rather than… ...
    GreensBy Jan Logie MP
    14 hours ago
  • Another new tax, another broken promise
    National has unveiled yet another new tax in this budget – a rural broadband levy that will almost certainly result in an immediate price hike for internet and telephone connections across New Zealand, Labour’s ICT spokesperson Clare Curran said “The… ...
    1 day ago
  • Anniversary of Sri Lankan Tamil Massacre
    This is not going to be a happy story but if the Green Party of Aotearoa doesn’t want to know who else will? May 18th marks the anniversary of what is known as the ‘Mullivaikal massacre’ of Tamils in 2009 at… ...
    GreensBy Catherine Delahunty MP
    1 day ago
  • Labour MPs join youth to take part in 40 hour famine
    A team of Labour MPs took part in the 2015 World Vision 40 hour famine and we were told by World Vision and the young people, that it was the first time MPs had joined them and how appreciative they… ...
    1 day ago
  • Rodeo: ‘Family entertainment’ or animal abuse?
    Recently  TVNZ ran a story with confronting footage showing rodeo animals being punched, repeatedly shocked with electronic prods and having their tails violently twisted over their backs. It was clear that significant force was being used behind the scenes to make… ...
    GreensBy Mojo Mathers MP
    1 day ago
  • Budget puts the squeeze on police
    The Government has cut funding to the New Zealand police force in the latest Budget, says Labour’s Police spokesperson Kelvin Davis. “The reduction is a whopping $15.3 million that could put front line officers at risk. ...
    1 day ago
  • Crucial social services take another hit
    The Government looks set to slash half a million dollars of funding for critical social services, including Women’s Refuge and Barnados, says Labour’s Social Development spokesperson Carmel Sepuloni “Taking $500,000 from organisations aimed at improving the lives of vulnerable families… ...
    1 day ago
  • Saying it Loud on Climate in Christchurch
    The Government’s Christchurch consultation meeting on New Zealand’s emission targets was inspiring – not for what was in the Ministry for the Environment’s (MFE’s) defeatist video about the obstacles to changing to a low carbon future, but for what the… ...
    GreensBy Eugenie Sage MP
    2 days ago
  • Budget silent on small business
    The Government has completely ignored one of the most important sectors of the economy – small and medium-sized enterprises – in Budget 2015, Labour’s Small Business spokesperson Jacinda Ardern says. "A stunning 41 per cent of jobs were created by… ...
    2 days ago
  • Thank you John, it’s been bloody marvellous
    The departure of John Campbell is a blow to current affairs investigative journalism, Labour’s Broadcasting Spokesperson Clare Curran says. “Campbell Live stood out in its field. Its axing comes as local broadcasting in New Zealand remains in a state of… ...
    2 days ago
  • KiwiSaver cut shows no long-term plan
    National’s cutting of the KiwiSaver kickstart is incredibly short-term thinking, typical of a Budget that is woefully short on ideas to generate wealth and opportunity, Labour’s Finance spokesperson Grant Robertson says. “New Zealand’s savings rate is far too low. KiwiSaver… ...
    2 days ago
  • National hits the panic button for its 7th Budget
    National has hit the panic button for its 7th Budget in a desperate attempt to look like they’re taking action to reduce our shameful child poverty rates, but they are giving with one hand and taking with the other, Opposition… ...
    2 days ago
  • Panic and back-flips can’t hide twin deficits
    National’s token measures to fight fires they have left burning for seven long years can’t hide a Budget that is long on broken promises, short on vision and fails to reach surplus, says Labour’s Finance spokesperson Grant Robertson. “After being… ...
    2 days ago
  • Auckland land measure seven years too late
    National are so desperate to look like they are doing something about the Auckland housing crisis they have dusted off Labour’s 2008 inventory of government land available for housing and re-announced it, says Labour’s housing spokesperson Phil Twyford. “Despite National… ...
    3 days ago
  • Access to gender reassignment surgery essential
    I was frankly disgusted to hear the Minister for Health say that funding gender reassignment surgeries is a “nutty idea”. A recent study found that in New Zealand 1% of young people identified themselves as transgender, and 3% were unsure… ...
    GreensBy Jan Logie MP
    4 days ago
  • Global milk prices now lowest in 6 years
    The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices… ...
    4 days ago
  • Big risks as CYF checks stopped
    Revelations that Child, Youth and Family is no longer assisting home-based early childhood educators by vetting potential employees should set alarm bells ringing, Labour Children’s spokesperson Jacinda Ardern says. “Doing away with an extra mechanism for checking potential new employees… ...
    4 days ago
  • Housing crisis about real people not numbers
    The Government’s continued failure to tackle the housing crisis is seeing thousands of vulnerable Kiwis being kept off social housing waiting lists, while others, who are on the list, are being forced to live in cars and garages, says Labour’s… ...
    4 days ago
  • Housing crisis about real people not numbers
    The Government’s continued failure to tackle the housing crisis is seeing thousands of vulnerable Kiwis being kept off social housing waiting lists, while others, who are on the list, are being forced to live in cars and garages, says Labour’s… ...
    4 days ago
  • State of origin
    Kiwis are increasingly concerned about the food they give their families. New Zealand consumers have the right to know where their food has come from, particularly when it involves animals, and should be able to expect our Government to label… ...
    GreensBy Steffan Browning MP
    4 days ago
  • Relationships Aotearoa
    It is disturbing that Relationships Aotearoa, a voluntary organisation set up in 1949 to help couples struggling with their relationships following the upheavals of World War II, may be forced to close, says Acting Spokesperson for the Voluntary and Community… ...
    5 days ago
  • An economy that is just working for some is an economy that is not working
    The National Party presents itself as a great manager of the economy, but if the economy is only working for some we really need to question that assertion. Alongside the perpetually elusive surplus, the levels of risk in our economy are… ...
    GreensBy Jan Logie MP
    5 days ago
  • An economy that is just working for some is an economy that is not working
    The National Party presents itself as a great manager of the economy, but if the economy is only working for some we really need to question that assertion. Alongside the perpetually elusive surplus, the levels of risk in our economy are… ...
    GreensBy Jan Logie MP
    5 days ago
  • House prices to a crack $1 million in 17 months
    The average Auckland home is on track to cost $1 million in 17 months’ time if nothing substantial is done to rein in soaring price rises, Labour’s Housing spokesperson Phil Twyford says. “Auckland’s house prices have skyrocketed 63 per cent… ...
    5 days ago
  • Vital support services can’t be left in lurch
    The National Government has big questions to answer about how a provider of services to thousands of vulnerable New Zealanders is set to fold, Labour’s Finance spokesperson Grant Robertson says. Relationships Aotearoa which provides support and counselling to families, individuals… ...
    5 days ago
  • Treasury and IRD on a capital gains tax
    Both the Treasury and IRD have been advising the National Government on the benefits of a capital gains tax. Documents released to the Green Party under an Official Information Act request show that John Key has been selective with the… ...
    GreensBy Russel Norman MP
    5 days ago
  • Charity legislation needs review
    It is unacceptable that the big corporate based charities claim  millions in annual income tax exemptions, while small community based and operated non-profit organisations  struggle to gain official charity status, Labour’s acting spokesperson for the Voluntary and Community Sector Louisa… ...
    6 days ago
  • John’s panic-Key response to housing crisis
    John Key needs to tell New Zealanders what caused his sudden change of heart that led to the Government’s scrambled and last-minute housing measures, Opposition Leader Andrew Little says. “The Prime Minister’s sudden rush of blood to his head followed… ...
    6 days ago
  • Keep our Assets Christchurch Campaign: An update
    I recently presented my submission to keep Christchurch Council assets at the Christchurch City Council’s public hearings on its 10 year plan on 13 May. The hearings are live-streamed and recorded so you can watch them on www.ccc.govt.nz. The Council’s… ...
    GreensBy Eugenie Sage MP
    6 days ago
  • John Key finally admits there’s a housing crisis
    John Key’s weak measures to rein in the astronomical profits property speculators are making are an admission – finally – that there is a housing crisis, Labour Leader Andrew Little says. “But yet again National is tinkering with the housing… ...
    6 days ago
  • Government stifles voices in CYFs review
    The Government’s exclusion of the Māori Women’s Welfare League in a panel on the future of CYFs is a cynical ploy to stifle views, says Labour’s Māori Development Spokesperson Nanaia Mahuta. “It's unbelievable that a significant review on the future… ...
    1 week ago
  • Speech to the Otago Chamber of Commerce
    Thank you very much for the opportunity to be here today. It’s a pleasure as always to be back in the town that raised me. Growing up in St Kilda meant that there was one thing that was a big… ...
    1 week ago
  • Key can’t just be Prime Minister for Parnell
    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In… ...
    1 week ago
  • Stop the conversions
    This week, some Waikato locals took me and intrepid photographer Amanda Rogers on a tour of some  lakes and waterways in their region, and up to the massive dairy conversions in the upper catchment of the Waikato River. It… ...
    GreensBy Catherine Delahunty MP
    1 week ago
  • More regional jobs go in Corrections reshape
    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka face closure… ...
    1 week ago
  • Government’s climate meetings off to a bumpy start
    On Wednesday, I attended a hui and an evening meeting that the Government had organised in Nelson as part of its climate change consultation tour, to support the Nelson community telling the Government to take meaningful action on climate change.… ...
    GreensBy Steffan Browning MP
    1 week ago
  • Taxpayers the only ones left feeling blue
    Ministry of Social Development bosses could have saved themselves thousands of dollars in consultants’ fees by providing staff with rose-tinted spectacles, Labour’s State Services spokesperson Kris Faafoi says. A report out today reveals the Ministry is spending over half a… ...
    1 week ago
  • Why are the regions still facing restrictions?
    Labour's Housing spokesperson Phil Twyford is questioning why the regions should continue to be saddled with LVR lending restrictions announced by the Reserve Bank today. “Labour has been calling for the regions to be exempted from LVRs for the best… ...
    1 week ago
  • The high costs of weak environmental regulation
    Te Waihora/Lake Ellesmere is described on the Department of Conservation website as “Canterbury’s largest and New Zealand’s fifth largest [lake], and an internationally important wildlife area.” But the lake is also polluted by nutrients leaching from farms in the catchment.… ...
    GreensBy Eugenie Sage MP
    1 week ago
  • Submissions to Wellington City Council on their Gambling Venues Policy
    Every three years Councils across the country are required to check that their gambling venue policies are still fit for purpose and they can choose to consult on their policy if they are thinking of making changes. Councils don’t have… ...
    GreensBy Denise Roche MP
    2 weeks ago
  • Reserve Bank action shows Govt out of touch and out of ideas
    The Reserve Bank’s unprecedented measures today show it understands the serious risks of the overheating housing market – in complete contrast to John Key’s refusal to acknowledge the crisis, Labour’s Finance spokesperson Grant Robertson says. “The Bank is right to… ...
    2 weeks ago
  • Send us your snaps: 25 Years of the Green Party
    This year we've hit a milestone. We're turning 25.To help celebrate a quarter of a century, please send us your photos from the last 25 years of the Green Party Aotearoa New Zealand! Note: Photos must be jpg, gif or… ...
    2 weeks ago
  • 25 Years of the Green Party
    This year the Green Party sends 25. To help us celebrate a quarter of a century please send us you photos of 25 years of the Green Party!Photos must be jpg,gif or png and smaller than 2MB. If you are… ...
    2 weeks ago
  • Bay growth plan too little too late
    Today’s Bay of Plenty growth study from MBIE is another example of Government spin - lots of talk but little action, says Labour’s Regional Development spokesperson David Cunliffe.  “This is a region that desperately needs to develop the downstream processing… ...
    2 weeks ago
  • Government bows to ACC pressure
     The Government has finally buckled to pressure from Labour and the New Zealand public in making a half billion dollar cut to ACC levies, but the full benefits are two years away,” says Opposition Leader Andrew Little.  “$500 million over… ...
    2 weeks ago
  • False figures cloud Auckland transport facts
    The Prime Minister should apologise and issue a correction after both he and Transport Minister Simon Bridges have been caught out misrepresenting facts on Auckland’s transport spending, Labour’s Housing spokesperson Phil Twyford says. "Both John Key and Simon Bridges have… ...
    2 weeks ago
  • Govt books confirm National can’t post surplus
    The last publication of the Government’s books before the budget shows National will break its promise of seven years and two election campaigns and fail to get the books in order, says Labour’s Finance Spokesperson Grant Robertson. “The Government is… ...
    2 weeks ago

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