web analytics

National – a party for wastrels

Written By: - Date published: 1:08 pm, January 24th, 2014 - 13 comments
Categories: assets, Economy, greens, john key, national, russel norman, same old national - Tags: , , , , ,

I was going to write something based on this press release from the greens “National’s mismanagement sees asset sales cost balloon to $440m“. But what more needs to be said 1.

National has cost taxpayers over $440m so far with its asset sales policy, Green Party Co-leader Dr Russel Norman said today.

The Crown Financial Statements to the end of November 2013, released today, show that the sale of Meridian and Air New Zealand added hundreds of millions of dollars to the cost of the asset sales programme. When the cost of those sales is 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.

“John Key has mishandled the asset sales so badly that it has cost taxpayers nearly half a billion dollars,” said Dr Norman.

“National told us they would make hundreds of millions of dollars by selling the assets for more than their book value. Instead, they’ve lost over $200m by hocking the assets off cheaply.

“On top of that, there’s been the hand-out to Rio Tinto, Waitangi claim costs, and tens of millions of dollars to the brokers, ad-men, and lawyers.

“A decent government would be spending its time and money on creating well-paying, sustainable jobs for New Zealanders. National’s wasted its time and the public’s money on an asset sales agenda that New Zealanders didn’t want.

“New Zealanders voted by a margin of more than 2 to 1 against National’s asset sales in the referendum held in December. It’s time National listened and abandoned the sale of Genesis,” said Dr Norman.

1 Someone in the Greens should look at their bloated waffle of a headline.  And a link to a plain text version wouldn’t go amiss either.


13 comments on “National – a party for wastrels”

  1. captain hook 1

    That is the national party way. By and large they are all mouth. They cannot create wealth with productive assets so the only way they can loot the public purse is to pretend they are masters of the universe (sic) and steal off the public. Its time for donkeyote and his gang to get the order of the boot a.s.a.p.

  2. Papa Tuanuku 2

    WTF – what’s with the reference to Treaty costs right next to the line on ‘hand-outs?’

    • Naki Man 2.1

      That sounds like Russel thinks Treaty claims are a hand-out.

    • Hayden 2.2

      It says “…hand out to Rio Tinto, Waitangi claim costs…”. “hand out to Rio Tinto” is a separate item from “Waitangi claim costs”. This is evident as “hand out to Waitangi claim costs” doesn’t make any sense.

      • greywarbler 2.2.1

        That’s indicated by a comma, Naki Man, which separates one thing from another.
        Remember what they taught you at school. It was for this very purpose, so you could read about the country’s political policies and laws and know what you are talking about.

    • Pasupial 2.3


      I think that Norman is referring to the court case regarding the ownership/ guardianship of water in the leadup to the sale of MRP. That would have been a Waitangi claim (supported by article 2 of the treaty), without being a Waitangi Tribunal claim (or at least; not yet). The cost to the crown in legal fees would have been considerable and thus demonstrates another aspect of the Key government’s inept handling of their asset sale program.

  3. bad12 3

    What more is to be said, ‘The books’ have also got a 400 million dollar hole in them from a lower than expected tax take, Slippery the Prime Minister describes this as ‘nothing’ claiming it was simply a matter of ‘timing’,

    Indeed, it’s about time those on the nice end of profit increases coughed up their fair share,

    Despite the economy being said to be growing at 3% unemployment has barely dropped by 1% and as soon as the Reserve Bank does the Bizz to the official cash rate that figure is likely to reverse,

    So much for the ‘gushing’ of all that economic good news which was in it’s entirety built upon inflation as opposed to production,

    So in the hole by nearly another billion dollars but ‘no worries’ right because Slippery the Prime Minister and the charlatan ex from Dipton have previously borrowed more ‘cheap’ money than they needed at the time,(2010-2011), so let’s plug the billion dollar lies with a bit of borrowed scrip and while we are at it ‘cook’ the books using the same scrip pretending that the budget is balanced all the while yelling ‘Look we didn’t borrow any money This year’…

  4. Chooky 4

    “Rock Star economy”!…… we have been told by the corporate banksters

    …but what sort of ‘Rock’ and ‘Star’ are they talking about?….i hope not a nasty big meteor shower or comet about to take us all out in Godszone!


    Henny Penny and Chicken Licken and “The Sky is Falling” bed time stories for the perches ,,,guess who is the cunning Mr Fox?




    • Murray Olsen 4.1

      I think they mean rock stars like Hendrix, Joplin, or Morrison (RIP) who ended up dying in their own vomit.

  5. Will@Welly 5

    LPrent – too harsh. Kissy, kissy, smacky, smacky. This National baby’s not for turning.
    And to compare it to a wastrel, shame!! John Key can do better than that.
    We all know he can turn a sow’s ear into a right pig, without even trying. Napoleon would be pleased.
    When he tries, he can get both feet in his mouth – a right gobulator!! Wait till Will’s and Kate get out here, then watch him waffle. And who knows, maybe even Barrack could be coming our way.
    Maybe that was the real reason Key was on the golf course – Barrack needed cheering up, he needed a laugh – the call went out, get the comfistulated gobulator Key, he’s hanging out next door.

    Money for the rich – what’s next – that’s all Key knows.

  6. Xtasy 6

    What can you expect from a drunken “captain” at the helm?

    I wonder what he drank while on Hawaii, I remember getting onto some Hinano when stopping on Tahiti once, but Key can never be far away from any bottle of “forte”, I suppose.

    Blinglish must have had a reason to opt for just a “list” position now, preparing for early retirement, as the Key factor will have regularly interfered with his work. Not much fun left on board of the sinking Titanic, that says it all.

    As for “rock star economy”, what drugs are they all on??? It is more like an economy on “steroids”, like a ChCh rebuild, boosting GDP, while it is just bringing the place back to life.

Recent Comments

Recent Posts


  • Freedom on the Seas – A gift from your friendly Government
    When the Government announced it would need to uphold public safety during the upcoming International Naval Review, you’d be forgiven for thinking it was talking about wearing life jackets. But actually, the Government is applying restrictions that stop people boating ...
    GreensBy Kennedy Graham
    40 mins ago
  • Time for Paula Bennett to front up on HNZ P Fiasco
      Social Housing Minister Paula Bennett needs to rein in Housing NZ and sort out the mess that’s been created by the organisation’s misuse of methamphetamine testing procedures, says Labour’s Housing spokesperson Phil Twyford.   ...
    9 hours ago
  • A charge on plastic bags – debunking some myths
    The launch of my Members’ Bill last week, which would introduce a 15 cent charge on single-use plastic bags at the check-out, has generated a lot of comment on mainstream and social media. From The Paul Henry Show at the ...
    GreensBy Denise Roche
    2 days ago
  • National’s $1trillion property sandcastle
    The National government's failure to fix the housing crisis has seen the ballooning and unsustainable property market touch the $1 trillion mark, Labour’s Finance spokesperson Grant Robertson says. "Labour wants an economy that creates high wage work that is based ...
    2 days ago
  • Government failure on housing crisis drives Reserve Bank to add tools
    If the Government was delivering a comprehensive plan to fix the housing crisis, it is unlikely that the Reserve Bank would be continuing to pursue debt to income limits for lending for housing, says Labour’s Finance spokesperson Grant Robertson. ...
    3 days ago
  • International embarrassment for NZ likely over National’s failure to protect Maui dolphin
    New Zealanders who care about Maui dolphin should prepare to feel embarrassed: the Government is about to be put to shame on the international stage for its lack of action to protect Maui’s dolphin. The International Whaling Commissions’ 66th Biennial ...
    GreensBy Eugenie Sage
    5 days ago
  • Why don’t we spend $1b to keep people out of jail, rather than spending it on keeping them in?
    Earlier this week, Corrections Minister Judith Collins announced the government’s ‘solution’ to our burgeoning prison population. It seems that most, if not all, of Bill English’s hard-won surplus is going to disappear into another round of prison-building.  That must be ...
    GreensBy David Clendon
    1 week ago
  • PKE Ship Sent Packing – Not Too Soon
    It is appropriate that the palm kernel expeller (PKE) ship off Tauranga has been sent packing. For weeks I have been saying this ship needed to be sent away, but it seems as if MPI has been trying to find ...
    GreensBy Steffan Browning
    1 week ago
  • Do you #LoveSnow?
    I was a lucky kid. When I was about five or six my mum and auntie took me up to Whakapapa on Mt Ruapehu and taught me to ski. As a young kid I thought there was no bigger ...
    GreensBy James Shaw
    1 week ago
  • Awa Kairangi/Hutt River – Swimmable?
    On Thursday night I hosted a great swimmable rivers meeting organised by the local Greens in Heretaunga (Hutt Valley). It was great to see about 70 people attend and engage in the topic. We were welcomed by Te Atiawa representative ...
    GreensBy Catherine Delahunty
    1 week ago
  • September benefit figures disappointing
    The Government is out of touch with the reality that fewer people are going off the benefit and into employment or study, says Labour’s Social Development spokesperson Carmel Sepuloni.  “The quarterly benefit numbers for September are concerning. They show that ...
    1 week ago
  • MFAT officials refuse to back Prime Minister on Saudi sheep claims
    An Ombudsman’s interim decision released about the existence or otherwise of legal advice on the multimillion dollar Saudi sheep deal shows MFAT has failed to back up the Prime Minister’s claims on the matter, says Labour MP David Parker. “The ...
    1 week ago
  • Barry Coates on his first weeks in Parliament
    Week one in Parliament has been quite an occasion. I would like to share the experience. I had given up on the prospect of getting into Parliament before the election and had been enjoying the diverse work I was doing ...
    GreensBy Barry Coates
    1 week ago
  • Nats still planning to take Housing NZ dividend
    Housing New Zealand’s Statement of Performance Expectations shows that the National Government intends to pocket $237m from Housing New Zealand this year including a $54m “surplus distribution”, despite promises that dividends would stop, says Labour’s Housing spokesperson Phil Twyford. “After ...
    1 week ago
  • Parliament must restore democracy for Ecan
    Parliament has a chance to return full democracy to Canterbury with the drawing of a member’s bill that would replace the Government’s appointed commissioners with democratically elected councillors, says Labour’s Canterbury Spokesperson Megan Woods. “In 2010, the Government stripped Cantabrians ...
    1 week ago
  • Police struggle to hold the line in Northland
    Labour’s promise of a thousand extra police will go a long way to calming the fears of people in the North, says the MP for Te Tai Tokerau Kelvin Davis.  “Police are talking about the Northland towns of Kaitaia and ...
    1 week ago
  • Vote Sooty Shearwater/Tītī for Bird of the Year
    Sooty shearwater (Puffinus griseus) are amazing and deserve your vote in Forest and Bird’s Bird of the Year competition.  They make one of the longest known bird migrations, flying an annual round trip of 64,000 kms across the entire Pacific ...
    GreensBy Eugenie Sage
    1 week ago
  • Urgent action on agriculture emissions needed
    Immediate action is required to curb agricultural emissions is the loud and clear message from Climate change & agriculture: Understanding the biological greenhouse gases report released today by the Parliamentary Commissioner for the Environment, says Labour’s Climate Change spokesperson Megan ...
    1 week ago
  • Super Fund climate change approach a good start
    Labour Finance Spokesperson Grant Robertson and Climate Change Spokesperson Dr Megan Woods have welcomed the adoption of a climate change investment strategy by the New Zealand Super Fund. “This is a good start. It is a welcome development that the Super ...
    1 week ago
  • Energy use going in the wrong direction
    New data out this week from Statistics NZ paints a concerning picture of energy use across the economy under this National Government. You won’t be surprised to hear that there is some seriously worrying information here about how dirty our ...
    GreensBy Gareth Hughes
    1 week ago
  • Raising the age the right thing to do
    The announcement today that the Government will leave the door open for young people leaving state care still means there is a lot of work to do, says Labour's Spokesperson for Children, Jacinda Ardern "The Government indicated some time ago ...
    1 week ago
  • Junior Doctors go on Strike
    Thousands of junior doctors took strike action for 24 hours this week for better working conditions and safer working hours.  The Green Party supports their cause, and particularly their claims to reduce the number of days worked from up to ...
    GreensBy Denise Roche
    1 week ago
  • Coleman plays down the plight of junior doctors
    Junior doctors are crucial to our health services and the industrial action that continues tomorrow shows how desperately the Government has underfunded health, says Labour’s Health spokesperson Annette King.  “Jonathan Coleman’s claim that he has not seen objective evidence of ...
    1 week ago
  • Inflation piles pressure on National and Reserve Bank
    While many households will welcome the low inflation figures announced today, they highlight serious questions for both the National government and the Reserve Bank, Labour’s  Finance Spokesperson Grant Robertson said.  "While low inflation will be welcomed by many, the ...
    1 week ago
  • Officials warned Nat’s $1b infrastructure fund ineffective and rushed
    Treasury papers show the Government rushed out an infrastructure announcement officials told them risked making no significant difference to housing supply, says Labour’s housing spokesperson Phil Twyford.  “Like so much of National’s housing policy, this was another poll-driven PR initiative ...
    1 week ago
  • More cops needed to tackle P
    New Police statistics obtained in Written Questions show John Key is losing his War on P, highlighting the need for more Police, says Opposition Leader Andrew Little.  “New Zealanders expect serious action on P but today’s hodgepodge of half-measures won’t ...
    2 weeks ago
  • Strengthening our relationship with the Rātana movement
    It was a privilege to visit Rātana Pā last week with fellow Greens’ Co-leader James Shaw, our Māori Caucus and senior staff to meet with the leaders of te iwi mōrehu, to strengthen the ties between the Green Party and ...
    GreensBy Metiria Turei
    2 weeks ago
  • MBIE docs show country needs KiwiBuild, not Key’s pretend “building boom”
    John Key’s spin that New Zealand is in a building boom does not change the massive shortfall in building construction as new MBIE papers reveal, says Labour Party housing spokesperson Phil Twyford.  “We can fix the housing crisis, by the ...
    2 weeks ago
  • 1 in 7 Akl houses now going to big property speculators
    Speculators are running riot in the Auckland housing market making life tougher for first home buyers, says Labour’s housing spokesperson Phil Twyford.  Newly released data from Core Logic shows a 40 per cent increase in the share of house sales ...
    2 weeks ago
  • Disconnected thinking dirties the water
    Iain Rabbitts’ belief that drinking water quality, charging for water use and the land use that leads to water quality degradation should be treated separately is part of the problem we have right now in this country. The connection is ...
    GreensBy Catherine Delahunty
    2 weeks ago
  • Report back from Hands Off Our Tamariki hui
    This week I attended a hui in Otaki organised by Hands Off Our Tamariki about the proposed reforms to the Child Young Persons and their Families Act. Moana Jackson and Paora Moyle spoke.  They expressed deep, profound concern about the proposed ...
    GreensBy Jan Logie
    2 weeks ago
  • Labour mourns passing of Helen Kelly
    Helen Kelly was a passionate advocate for working New Zealanders and for a safe and decent working life, Leader of the Opposition Andrew Little says.  “Helen Kelly spent her adult life fighting for the right of every working person to ...
    2 weeks ago
  • National’s visionless immigration policy
    National’s recent immigration announcement is a continuation of the visionless approach to government that it has displayed in the last three terms. Rather than using the levers of government to implement a sustainable immigration policy that benefits new and current ...
    GreensBy Denise Roche
    2 weeks ago
  • Andrew Little: Speech to the Police Association Conference 2016
    Police Association delegates, Association life members and staff, representatives from overseas jurisdictions. Thank you for inviting me here today. The Police Association has become a strong and respected voice for Police officers and for policing in New Zealand. There is ...
    2 weeks ago
  • 1,000 more police for safer communities
    Labour will fund an extra 1,000 Police in its first term to tackle the rising rate of crime, says Leader of the Opposition Andrew Little. “Labour will put more cops on the beat to keep our communities safe. ...
    2 weeks ago
  • Call for all-party round table on homelessness
    Labour is calling on the Government to take part in a roundtable meeting to hammer out a cross-party agreement on ending homelessness.  Labour’s housing spokesperson Phil Twyford said the country wanted positive solutions to homelessness, and wanted the political parties ...
    2 weeks ago
  • Seclusion rooms in schools
    Schools are undoubtedly stretched and underfunded to cope with students with high learning support needs. But this cannot justify the use of rooms (or cupboards) as spaces to forcibly isolate children. It has emerged via media that this practice continues ...
    GreensBy Catherine Delahunty
    2 weeks ago
  • Public should get a say on new Waikato power station
    I had an opinion piece published in the Waikato Times about a controversial proposal to build a new gas-fired power station. It’s not on their website yet, so here it is: If you think the public would get a say ...
    GreensBy Gareth Hughes
    2 weeks ago
  • MSD and their investment approach
    The Government talks about investment but there is no investment. It is not investment if it isn’t over the whole of life and if there is no new money  — Shamubeel Eaqub   Investment sounds like adequate resourcing but this ...
    GreensBy Jan Logie
    2 weeks ago
  • Certainty needed for community services
    A couple of months ago I was at a seminar where three community organisations were presenting. Two of the three presenters were waiting to find out if their organisation would get a contract renewed with MSD. Not knowing if their ...
    GreensBy Jan Logie
    2 weeks ago
  • Domestic Violence – some advice for the media
    For the purpose of this piece, I’m going to use Domestic Violence (DV) as a proxy for intimate partner violence. DV is not isolated to physical abuse in a relationship between people with the same power. DV is a pattern of ...
    GreensBy Jan Logie
    3 weeks ago
  • Leroy’s New Paw Prints
    Leroy, an Auckland great dane recently received a new 3D printed bionic leg after cancer was discovered. I think this is a fantastic story and highlights the real potential of additive manufacturing, or 3D printing Leroy’s prosthetic was printed in titanium and was ...
    GreensBy Gareth Hughes
    3 weeks ago