Written By: - Date published: 1:06 pm, March 24th, 2014 - 27 comments
Rob at Polity points out National’s intensely unstrategic view about investments and asset sales. In a down market where all the indications said “buy,” National sold our assets for a pittance, and refused to invest in the Super Fund. The Super Fund has been making returns of 21%, far exceeding the Crown’s cost of borrowing. And National will only start investing in the Super Fund when equities are expensive again. It is almost as if they wanted to waste taxpayers funds eh?
Written By: - Date published: 1:08 pm, January 24th, 2014 - 13 comments
The Crown Financial Statements to the end of November 2013 show that the sale of Meridian and Air New Zealand added hundreds of millions of dollars to the cost of the asset sales programme. Combined with the cost of the Mighty River Power sale and ancillary costs such as the Rio Tinto payout, the total cost of the asset sales now stands at $440m. National just likes burning the money of the taxpayers for no productive purpose.
Written By: - Date published: 10:19 am, December 14th, 2013 - 88 comments
Rob Salmond runs the Polity blog and has given us permission to syndicate his posts. Long time readers will remember him from the brilliant posts on 08wire.org during the 2008 campaign, so expect us to often find something of interest.
Like this post looking at who voted No on the referendum. That number of previously National voters must be scaring the National party at present.
Written By: - Date published: 1:09 pm, April 4th, 2013 - 24 comments
Ryall has announced that Might River Power top brass will be receiving massive pay rises, in relation to the sale of the powercos. The directors have multiple positions, and questions have been raise about the past of one or two of them. They benefit; we pay.
Written By: - Date published: 10:03 am, March 28th, 2013 - 55 comments
Apparently Meridian Energy are saying that there is unlikely to be a renewal of the Tiwai Point power contract. This would massively disrupt the value of sales of shares in state owned power companies by this government. However news is being released just before Meridian appears before a select committee. So I’m anticipating that it is a chicken little play to scare this weak-kneed government into an emergency wastage of taxpayers dollars – just like the Peter Jackson inspired Hobbit extortion.
Written By: - Date published: 8:20 am, March 6th, 2013 - 40 comments
Amidst the froth of predatory “excitement” about the sale of our power generation assets, it was refreshing to read in The Herald yesterday a single lone voice who was thinking long term.
Written By: - Date published: 8:05 am, December 29th, 2012 - 91 comments
There’s been a couple of stories in the news over the last 24 hours that could do with some scrutiny: Treasury warns of asset sales over-load; potential sale of Oceania Dairy to an overseas company to set up a milk factory in NZ.
Written By: - Date published: 10:00 am, December 23rd, 2012 - 46 comments
Individualism & “celebrity” PM, John Key were still strong in 2012. But, there was opposition from some (often local) groups working collaboratively: Occupy, Glen Innes protesters, MUNZ, Asset Sales referendum, AAAP advocacy activism, manufacturing inquiry, NZLP democratisation, TS nest of vipers. And 2013?
Written By: - Date published: 9:55 pm, August 29th, 2012 - 51 comments
It’s Members Night in Parliament and the Marriage Equality Bill has passed its first reading. Future Asset Sales have not been entrenched however and National are currently arguing against raising the minimum wage.
Written By: - Date published: 4:06 pm, August 29th, 2012 - 8 comments
Gerry Brownlee has announced $12.3 billion of road spending over the next 3 years. Asset sales will pay for less than half of it. Does it really make sense to lose control of our strategic assets – with all the income they bring in – for just over 1 year’s worth of roads?
Written By: - Date published: 6:47 pm, July 31st, 2012 - 21 comments
The government have $3 billion for the Christchurch rebuild burning a hole in their pockets. But at the same time they’re claiming governmental poverty is why we need to sell our productive assets… And there’s 30,000 people nearby wanting proper houses to live in.
Written By: - Date published: 7:15 am, July 17th, 2012 - 62 comments
Even John Key is now admitting that the asset sale program is facing a serious legal challenge, and that delays in the sales are likely. Any such delay would have several implications…
Written By: - Date published: 2:28 pm, June 19th, 2012 - 81 comments
Independent energy analyst Molly Melhuish is putting out some facts that Tony Ryall will not find comfortable: we pay on average 28.1c per kWh from private companies and 24.79c per kWh from state owned companies. Why is the asset sales process being rushed through parliament, before Treasury can analyse Molly Melhuish’s research?
Written By: - Date published: 3:13 pm, June 13th, 2012 - 49 comments
The Asset Sales Bill will be back in Parliament for its second reading tomorrow.
It’s a further abrogation of due procress, as it comes back 5 weeks early, curtailing proper scrutiny.
Written By: - Date published: 8:33 am, May 27th, 2012 - 16 comments
Adding to the canon of reasons and commentators on why you don’t sell your assets (particularly to pay for your maintenance) is an excellent article on The Guardian. It is an article exhorting the countries of the Arab Spring to resist Western countries pressure to implement neo-liberal economics in the name of ‘freedom’. It cites […]
Written By: - Date published: 6:45 pm, May 21st, 2012 - 12 comments
National have become a very adept PR machine. While not adept at running the country, they’ve become great at running statistics. John Key was pushing things a little too far with his lines that unemployment rising to 6.7% showed an improved economy and that Europe electing anti-austerity leaders showed their austerity policies were right, but […]
Written By: - Date published: 8:10 am, April 14th, 2012 - 99 comments
The Nats promised to sell no more than 49% of any given state owned assert. Now they’re trying to get cute with semantics and effectively remove all limits.
Unfortunately for them their previous promises are on record and very clear. Hey Peter Dunne - are you going to vote for this latest lie?
Written By: - Date published: 2:04 pm, January 31st, 2012 - 86 comments
News in on the Herald says the Maori party are talking the talk over National’s latest insult to Maori.
Will they quit the Government? Or will the smell of those limo seats mean another backdown in a couple of weeks?
Written By: - Date published: 10:47 pm, December 15th, 2011 - 218 comments
Mighty River Power is first on the block, to be sold in the third quarter of next year (weather conditions permitting).
Written By: - Date published: 7:07 am, November 23rd, 2011 - 53 comments
Last night TV1 revealed National’s lies on the explosive topic of asset sales. The Nats have no official advice to back up their asset sales claims, and information is being withheld from the public. Not good enough – vote them out.
Written By: - Date published: 6:42 am, November 21st, 2011 - 151 comments
Phil Goff said yesterday we had “Six days to save our assets” – now we have 5. Here’s what University of Auckland’s economics professor thinks about asset sales, and some more reasons why we desperately need to avoid a National-led government on November 27.
Written By: - Date published: 2:00 pm, June 20th, 2011 - 92 comments
Phil Goff has just announced that Labour is putting up a private members’ bill to entrench SOEs. This would mean they could only be sold either with 75% support of Parliament, or with majority support in a referendum. Great Stuff. These are our assets. They should not be sold without our permission.
Written By: - Date published: 8:25 am, April 3rd, 2011 - 80 comments
The economy, shall we say politely, is facing some difficulties. With a National government there was no plan as to how to weather the economic storm, we just got tax cuts for the rich and an economy that just can’t get growing.