web analytics

Good one Bill

Written By: - Date published: 10:59 am, December 18th, 2008 - 20 comments
Categories: bill english - Tags:

Bill English has stopped the sale of BlueScope’s Taharoa ironsands business to a Chinese investor based on the fact that it won’t bring any value to New Zealand. Good on him. If we aren’t going to profit from investment then why should we allow it?

Of course there is the small issue of hypocrisy given John Key’s wailing over the last government’s decision to stop a similar sale of the Auckland airport but I’m sure somebody from the right will be able to explain here why that was completely different.

20 comments on “Good one Bill ”

  1. Andrew 1

    I think that reason would be that the Canadians only wanted a 30% (or something like that) shareholding in AIA. This would have left the majority ownership in NZ hands. That is rather different than owning the entire thing. Maybe im wrong though :o)

    BTW … lprent … Congrats on getting the edit to work. Works like a charm now.

  2. IrishBill: you seem to have forgotten that you are banned?

  3. gobsmacked 3

    Would these be Foreshore & Seabed ironsands?

    Maori Party beats Free Market.

  4. vto 4

    it don’t need a rightie to point out the differences. The reasons given were completely different – remember? apparently AIA was ‘strategic’ whatever the fuk that meant.

  5. vto 5

    also, is this another sleight of hand which is in fact part of the large shifting of the centre of the nats to accommodate more of NZers views on many things, including foreign ownership. Foreign ownership is one area where imo it should be far more heavily restricted – of the underlying land in the first instance at least..

  6. Felix 6

    It’s so weird, the nongs around here are always whinging that you never have anything good to say about the nats, and then when you do they stay away in droves.

    I say good on Bill too. You have to be nice when they do the right thing or they’ll never learn.

    captcha: “locally factory”. Spookier and spookier.

  7. AIA was a total different situation, back then Aunty Helen told private share holders who they can or cannot sell their shares to, I could understand it, if the government was a shareholder and didn’t want to sell their shares, but to tell TEN THOUSAND PRIVATE SHAREHOLDERS that they couldn’t sell their owns shares was just a repulsive thing to do.

    But that is the level that Labour got to and why a lot of people who use to vote for them (myself) didn’t, they have this attitude of “We know what is best, and we will take away any decision from you”

  8. Felix 8

    How is this different, Brett? Isn’t Uncle Bill preventing private shareholders from selling?

    Who owns BlueScope? What’s the difference?

  9. The level is completely different, but if he is stopping a PRIVATE SHAREHOLDER from selling then that is also repulsive.

    This is why I will never invest in the NewZealand share market again.

  10. Felix 10

    Who do you think owns companies apart from shareholders?

  11. Gareth 11

    A couple of things – it was the fact Cullen decided against advice and legislation that he didn’t want Canadians buying a minority stake so changed the legislation on the fly to back himself up that got most people upset.

    I’m not necessarily against the decision, but realise all we’ve done is stopped the Aussies from selling to the guy from Hong Kong. Certainly made a massive difference to New Zealand there!
    I still don’t see the rational for stopping that sort of activity – there’s something to be said for stopping strategic assets going offshore (although frankly there’s a long line of offshore people I’d rather have buying our assets than Msrs Fay, Richwhite, Watson, or Petricivec) but what do we care about the nationality of the owner once it’s already there? Note that the AIA deal was similar in this aspect – the Canadians wanted to buy 40%, 40% was already owned by OFFSHORE hedge funds who were very keen to get in on the sale so it would largely have been a transfer of foreign ownership to a much more palatable long-term investor than short-term hedgie…

  12. ghostwhowalks 12

    The ironsands are not on the beach as such but form the land inland from the beaches. But the owners of the land are Maori and had leased the land, and recieve royalties

  13. Doesnt matter who owns them apart from the sahreholder, The fact is a PRIVATE SHAREHOLDER should have the right to sell his/hers shares to who they want to, without interference from a socialist government.

  14. I see good sense in not allowing overseas interests to own local monopolies. If anyone should be milking us all like buggery for monopoly rents, it should be our OWN pension fund…..not a Canadian one. (Note: I was born in Canada).

    If overseas interests want to come here and BUILD something with their own money (real foreign investment), I have no issues at all. But if they simply want to buy up local monopolies with borrowed cash and then make us pay for them all over again PLUS a profit……screw that.

    Efficient for them and damn STUPID for us to keep paying for each new overseas acquisition through our purchase of their goods AND also their return on the asset.

    The government could buy the damn thing and even if they ran it at a loss we would STILL be better off overall.

  15. Felix 15

    So Brett you must be pretty pissed at that socialist Bill English and the socialist National Government then.

  16. Jim Dandy 16

    vto
    December 18, 2008 at 12:16 pm
    “Foreign ownership is one area where imo it should be far more heavily restricted – of the underlying land in the first instance at least.. ”

    Good to hear that vto
    Helen Clark was the great sales woman I hear.

  17. Gareth 17

    Mr Withers – it’s NOT a local monopoly. It’s currently owned by foreigners.

  18. Felix 18

    Hey Brett you invest in the Aussie market don’t you? Got any BlueScope shares in your portfolio?

    Jeez it’s like these Kiwi governments just won’t leave you alone…

  19. Jim Dandy 19

    New Zealand is a place of sublime natural beauty, populated exclusively by sheep, hobbits, and, lately, hoteliers. But for a high-style antipodal experience, it’s hard to know where to stay. Unless, of course you happen to be Christopher Petkanas.

    From September 2005

    New Zealand is the new Eden, its clean and green image the beneficiary of a public-relations windfall direct from Middle-earth. Americans are not just visiting the country in numbers unimaginable only five years ago—they’re immigrating, drawn by an arcadian ideal (never underestimate the pacifying effect of several billion sheep), breathtakingly cheap waterfront real estate, see-through fish-tank architecture, and an investment climate that, as one Las Vegas resort ownercumSouth Island winemaker puts it, makes New Zealand “the Switzerland of the South Seas.”
    One of the most powerful forces in the shilling of the nation is Helen Clark, familiar to all Kiwis as Madame Prime Minister. In her book, there are no bad tourists, only ones with shallow pockets. And in a recent campaign that will go down in history, Clark aggressively packaged and promoted New Zealand as a place where Californians in particular, because of their relative proximity and the kinship in lifestyles, might consider putting down roots. “Active recruitment,” she called it, and some of the state’s richest residents signed up. Vive le marketing.

    http://www.travelandleisure.com/articles/kiwi-country/

    There went the camp ground 🙄

  20. vto 20

    Just feel like adding 2c more re foreign ownership. My basic theory in 3 words or less goes… How on earth can we kiwis compete with 300million Americans and say 500million Europeans for ownership of our land? And why the hell should we? It is just bloody ludicrous. We can’t. Hence the reason the ‘best’ land (coastal, lake, etc) is now super expensive and the people who live here are excluded. If foreigners want to own land in NZ then they need to live here. NZ cannot suffer absentee ownership of its land. And tenancy communities are the weakest communities. And thats more than 3 words and badly expressed. And now I’ve gotta go – what a terrible post.

Recent Comments

Recent Posts

  • Festival drug-checking services get a boost
    The Government is financially supporting drug-checking services to help keep young people safe at this summer’s large festivals and events, Health Minister Andrew Little says. “This is not about condoning drug use, but about keeping people safe,” Andrew Little said. “There is clear evidence that having drug-checking services at festivals ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • Expanded vaccination order for health and disability, education and prison workers
    A newly-signed Order means most people working in three key sectors will very soon need to be vaccinated against COVID-19 for the sake of themselves, their workmates and their communities, COVID-19 Response Minister Chris Hipkins has confirmed. The extended COVID-19 Public Health Response (Vaccinations) Amendment Order 2021 comes into effect ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • APEC finance ministers focus on inclusive, sustainable COVID recovery
    APEC finance ministers will continue to work together to respond to the effects of COVID-19 and ensure a sustainable and inclusive recovery while capitalising on the opportunity to build a more resilient future. The New Zealand Minister of Finance and Deputy Prime Minister Grant Robertson chaired the virtual APEC Finance ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Improvements to child and maternity facilities at Timaru Hospital on track
    Improvements to child and maternity facilities at Timaru Hospital are well underway, and the next stage of the project will begin next month. Health Minister Andrew Little visited Timaru Hospital today to view progress onsite. “The improvements are part of South Canterbury DHB’s four-year refurbishment project and will create a ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Govt responds to independent review into WorkSafe
    The Government has clear expectations that WorkSafe must action the recommendations of the independent review into the regulator to improve its management of adventure activities following the tragedy at Whakaari White Island, Workplace Relations and Safety Minister Michael Wood says. The Ministry of Business Innovation and Employment (MBIE) today released the ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Prevention funding to reduce tamariki in care
    A new iwi-led prevention programme will receive funding from Oranga Tamariki to help reduce the number of tamariki and rangatahi coming into state care, Children’s Minister Kelvin Davis has announced. Te Rūnanga o Ngāi Tahu (Te Rūnanga) will receive $25.9m of Oranga Tamariki funding over three years to improve outcomes ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Transforming New Zealand’s mental health legislation
    Public consultation is now open for Aotearoa New Zealand to have a say on the repeal and replacement of the Mental Health (Compulsory Assessment and Treatment) Act 1992. “’He Ara Oranga, the report of the Government Inquiry into Mental Health and Addiction’ made it clear that we needed to replace ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • COVID-19 Protection Framework
    Kia ora koutou katoa Today I’m speaking directly to all New Zealanders to share a plan that will help us stay safe from COVID-19 into the future. A future where we want to continue to protect people’s lives, but also to live our lives – as safely as possible. Our ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Business boost to transition to new COVID framework
    We know that over the last twenty months the approach New Zealand has taken to COVID and Delta has saved lives and livelihoods. Along with one of the lowest mortality rates in the world, we have also had strong economic growth, low unemployment and one of the lower levels of ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • COVID-19 funding boost to protect maōri communities
    Tēnā koutou katoa As you have heard from the Prime Minister, the new protection framework will support us to keep people safe especially our vulnerable communities and minimize the impact COVID-19 has on business and our day to day lives. If you want to protect yourself, your whanau and your ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New COVID-19 Protection Framework delivers greater freedoms for vaccinated New Zealanders
    New COVID-19 Protection Framework provides pathway out of lockdown and ability for businesses and events to re-open to vaccinated New Zealanders Simpler framework to minimise cases and hospitalisations without use of widespread lockdowns Auckland to move into the new framework when 90 percent of eligible population in each of the ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • New fund to accelerate Māori vaccinations
    The Government has established a $120 million fund to accelerate Māori vaccination rates and support communities to prepare for the implementation of the new COVID-19 Protection Framework. The new Māori Communities COVID-19 Fund will directly fund Māori, Iwi, community organisations and providers to deliver local vaccination initiatives for whānau, and ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Government extends hardship assistance for low income workers
    Income limits for Hardship Support through the Ministry of Social Development have been temporarily lifted so more people can recieve assistance. “Cabinet has agreed to make it easier for low income workers to recieve assistance for items such as food and other emergency costs,” Carmel Sepuloni said. “We know the ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • More support for learners with highest needs
    Students most in need of extra help in the classroom are the focus of a new review that gets under way today, Associate Education Minister Jan Tinetti says. About 50,000-80,000 children and young people are expected to benefit from a Ministry of Education review into Highest Need Learners that will ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Parts of Waikato to stay at Alert Level 3 for next six days
    The parts of Waikato that have been in Alert Level 3 will remain at that alert level till Wednesday, COVID-19 Response Minister Chris Hipkins said today. “Based on the latest public health information, maintaining level 3 in those parts of the Waikato continues to be the most prudent course of ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Hon Peeni Henare September 2021 Proactive Diary Release
    ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • NZ passes world-first climate reporting legislation
    New Zealand has become the first country in the world to pass a law that will ensure financial organisations disclose and ultimately act on climate-related risks and opportunities, Commerce and Consumer Affairs Minister Dr David Clark and Climate Change Minister James Shaw today announced today. The Financial Sector (Climate-related Disclosures ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Prime Minister NZ UK FTA opening remarks
    Tēnā koutou katoa. Ngā mihi nui ki a koutou katoa. I am delighted to announce today that following a conversation with Prime Minister Johnson last night, New Zealand and the United Kingdom have Agreed in Principle a historic high-quality, comprehensive and inclusive free trade agreement. I’m joined today by the Minister ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • New Zealand secures historic free trade deal with the United Kingdom
    A boost of almost $1 billion to New Zealand GDP, unprecedented access for New Zealand exporters to the UK market UK to eliminate all tariffs on New Zealand exports, with over 97% being removed the day the FTA comes into force NZ exporters to save approx. $37.8 million per year ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Quarterly benefit numbers show more people in work
    Benefit figures released today show a year on year fall of 9,807 people receiving a Main Benefit in the September Quarter.  “The Government is working hard to tackle COVID-19 and it is clear our strong response to the initial outbreak has created a resilient labour market which is providing opportunities ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Health reforms bill introduced to Parliament
    Legislation central to fixing the health system has been introduced into Parliament by Health Minister Andrew Little. “Rebuilding the public health system is critical to laying the foundations for a better future for all New Zealanders,” Andrew Little said. “We need a system that works for everybody, no matter who ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • NCEA and NZ Scholarship Exams to proceed
    NCEA and New Zealand Scholarship exams will proceed, including in areas where Alert Level 3 has been in place, Education Minister Chris Hipkins said today. “The New Zealand Qualifications Authority, Ministry of Education and Ministry of Health have been working together to ensure exams can be managed in a safe ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Limited change to onsite learning – for senior secondary students – in Level 3 regions
    Onsite learning at schools in Level 3 regions will start from next week for senior secondary school students to prepare for end of year exams, Education Minister Chris Hipkins said today. “Secondary schools in these regions will start onsite learning for years 11 to 13 on Tuesday 26 October,” Chris ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Guaranteed MIQ spots for health workers
    The Government is changing the way managed isolation is co-ordinated for health workers, guaranteeing 300 spots a month for the health and disability sector. “Our world-class workforce is vital in rebuilding the health system and dealing with the COVID-19 pandemic,” Andrew Little said. “Whether it’s bringing doctors or nurses in ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Govt helps to protect New Zealanders digital identities
    Making it easier for New Zealanders to safely prove who they are digitally and control who has access to that information is one step closer to becoming law, Minister for Digital Economy and Communications, Dr David Clark said. The Digital Identity Services Trust Framework Bill passed its first reading today ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Red tape cut to boost housing supply
    New building intensification rules will mean up to three homes of up to three storeys can be built on most sites without the need for a resource consent New rules will result in at least 48,200 and as many as 105,500 new homes built in next 5-8 years Bringing forward ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Nationwide business partnership grows conservation jobs
    Further Government support for New Zealand’s longest-standing sustainable business organisation will open up opportunities for dozens of workers impacted by COVID-19 to jump start a nature-based career, Conservation Minister Kiri Allan says. Partnering to Plant Aotearoa, led by the Sustainable Business Network (SBN), is a collaboration with iwi, hapū and ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New Zealand increases climate aid contribution
    Government commits $1.3 billion over four years to support countries most vulnerable to the effects of climate change At least 50 percent of funding will go to the Pacific as it adapts to the impacts of climate change The increase means New Zealand now meets its fair share of global ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Super Māori turnout for Super Saturday
    Māori have put a superb effort into mobilising to get vaccinated over Super Saturday, with thousands rolling up their sleeves to protect themselves, their whānau and communities from COVID-19, Associate Health Minister Peeni Henare says. “It was absolutely outstanding that 21,702 Māori got vaccinated on this one day alone with 10,825 ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Language assists Tagata Niue to thrive
    Despite the uncertain times we face with the challenges of COVID-19, our cultural knowledge, values and language remain constant, helping us progress towards goals in life, said  the Minister for Pacific Peoples Aupito William Sio. This year, the Niuean community in New Zealand decided on the theme, “Kia tupuolaola e ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Zealand Ambassador to France announced
    Foreign Affairs Minister Nanaia Mahuta today announced the appointment of Caroline Bilkey as New Zealand’s next Ambassador to France and the OECD. “Aotearoa New Zealand and France have a shared history, and enjoy a strong, collaborative partnership. This includes a strong trade and economic relationship, a shared commitment to support ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Govt welcomes nurses’ pay settlement
    The Government is welcoming news that a new employment agreement for nurses working in public hospitals has been settled. “I am very pleased that the hard work of the Nurses Organisation and District Health Boards has led to a settlement that both can support,” Health Minister Andrew Little said today. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Judge of the High Court appointed
    Māori Land Court Judge Layne Harvey has been appointed a Judge of the High Court, Attorney‑General David Parker announced today. Justice Harvey graduated with an LLB from the University of Auckland in 1992 and commenced employment as a law clerk with Simpson Grierson in Auckland that same year. In 1997 ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kiwis to have their say on plan to reduce waste
    New Zealanders are invited to have their say on proposals for a new waste strategy and options for new waste legislation. “Reducing waste is one of the issues all New Zealanders – especially younger Kiwis - care deeply about,” Environment Minister David Parker said today “New Zealand is one of ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Next steps in action plan for indigenous rights kicks off
    Minister for Māori Development Willie Jackson has today meet with more than 30 national Māori organisations in an online hui, kicking off the process to develop a plan for New Zealand to implement the United Nations Declaration on the Rights of Indigenous Peoples (the Declaration). The previous National Government signed ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Iwi-led housing solutions build homes for the future
    Whai Kāinga, Whai Oranga will open on 20 October, to receive applications for investment through Te Tūāpapa Kura Kāinga – Ministry of Housing and Urban Development and Te Puni Kōkiri The $730m fund combines investment from Budget 2021 ($380m) and the Māori Infrastructure Fund ($350m) - the largest investment seen ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • E whakarite ana Te Kāwanatanga i ngā tūāpapa mō twhakamaumahara ki Te Petihana Reo Māori ka t...
    I te rā nei, i pānuihia e te Minita mō Manatū Taonga, ko Carmel Sepuloni, rāua ko te Minita Whanaketanga Māori, ko Willie Jackson, ā tērā tau, ka whakanuia rawatia te 50 o ngā tau mai i te whakatakotoranga o te petihana mō te Reo Māori me te huanga mai ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • E whakarite ana Te Kāwanatanga i ngā tūāpapa mō tewhakamaumahara ki Te Petihana Reo Māori ka t...
    I te rā nei, i pānuihia e te Minita mō Manatū Taonga, ko Carmel Sepuloni, rāua ko te Minita Whanaketanga Māori, ko Willie Jackson, ā tērā tau, ka whakanuia rawatia te 50 o ngā tau mai i te whakatakotoranga o te petihana mō te Reo Māori me te huanga mai ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government green lights rapid antigen testing
    Some of the country’s largest businesses have put in an order for 300,000 approved rapid antigen tests for their workforce, after working at pace with the Government on a new scheme unveiled by Associate Minister of Health and Research, Science and Innovation Ayesha Verrall. A coalition of around 25 businesses ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government lays foundations as Māori Language Petition commemorations take shape for 2022
    Taiaha hā! Taiaha hā! - Te kairangi o te reo hoki mai ki taku tikanga, ki taku taumata, ki taku reo, ki taku ao. He reo whai tikanga, he reo whai mana, he reo whai tangata koe. Ki te whāngaihia te reo Māori he ao tēnā, ki te kore he ...
    BeehiveBy beehive.govt.nz
    1 week ago