web analytics

To sell or not to sell

Written By: - Date published: 11:00 pm, April 12th, 2008 - 11 comments
Categories: assets, john key - Tags: ,

auck-airport.jpgAt the Labour Party congress today, Helen Clark predicted that asset sales would be a key election issue and says the Government was right to veto the Auckland Airport share bid.

“The National Party and ACT have made it plain where they stand – ‘sell it off’, they cry.

This is a defining issue. In Labour we support special scrutiny being applied to bids for foreign ownership of strategic infrastructure on sensitive land.”

Yesterday John Key, with the luxury of time to prepare after being put on the spot back in Marchcame out strongly saying the Government’s action shows it always intended to veto the offer and overseas investors won’t like it.

However, I suspect many people would agree with Michael Cullen when he pointed out that New Zealand has had bad experiences selling assets offshore – such as Telecom, the rail network and Air New Zealand. He says it was up to the Canadian company to prove the offer was in the national interests of New Zealand.

Given the Colmar Brunton poll last month found that 48% of people said assets should be kept and 45% backed a partial sale it will be interesting to see how the final decision is received over the next few weeks.

NB – for those interested in the full ins and outs of the arguments the associated papers are up on the web here.

11 comments on “To sell or not to sell ”

  1. Razorlight 1

    Labour will be desperate to make this an election issue as they feel ,politically at least, they are on the winning side of the argument.

    Natinal has to be careful the electorate is not fed half truths from Cullen & Co. The airport after all wasn’t part of the family jewels. It is already privatley owned and I feel this point is often forgotten.

    They have to come out early, like right now, draw a line in the sand and clearly explain where they stand. End the argument now before Cullen gets any traction.

    Bring the election back to the real issues like why the Health system is swallowing billions more of our tax dollars but delivering at best the same services. Or pull Labour up on some of their forgoten objectives like dragging New Zealand back into the top half of the OECD!!!

  2. ghostwhowalks 2

    The fact that the airport is ‘privately’ owned is irrelevant.
    ( BTW the shares were issued only to NZers to start with, so they got a special deal).

    All consideration of purchases under the OIC is of ‘privately owned land’. This applies to all of the applications. So the assertion that its not the governments is ridiculous.

  3. higherstandard 3

    Ghost

    So how would a bid by Emirates (at 40% rather than 60%) have stood up as they were offering the capital and the aviation experience to upgrade the airport and attract more business.

    I wonder if they came back whether the government would have an honest look at their proposal or just continue playing politics.

  4. Razorlight 4

    Why are private investors from New Zealand less dangerous to our still undefined startegic assets, than foreign Canadian investors.

    It is xenophobic rubbish to suggest they would run the things differently. I expect this scare mongering from New Zealand First but not Labour.

    Anything goes in election year though doesn’t it.

  5. gobsmacked 5

    Well, John Key has now come out and drawn that “line in the sand”. It may not be where Razorlight and the right would want it though.

    On Agenda this morning, Key made it clear: no sales whatsoever of publicly-owned assets – even partial, even minor.

    He gave no economic policy reason for this, begging many questions (Why a blanket ban? Are all state-owned assets the same? Are the current boundaries exactly right? Why? Should the state buy some instead? What about Rail?).

    Colin Espiner was sharp enough immediately to recognize this as “innoculation”. Key admitted it was, before backtracking.

    Two more questions: what is a state-owned asset? For example, does it include houses, which even Labour have been willing to sell for the right price? What other exceptions are there?

    And how long will the National caucus put up with this constant retreat from the right?

  6. Pascal's bookie 6

    And how long will the National caucus put up with this constant retreat from the right?

    Till those phone calls from the ‘anonymous donors’ are made. About 5 minutes after the polls close on election day.

  7. gobsmacked 7

    Heh. Roger Douglas pops up on One News with a good line (all spin, no spine).

    What an absurd policy it is, really. As though (for example) the state owning a bank is a Good Idea in 2010 but may be transformed into a Bad Idea in 2012. Why do they need three years to work that one out? What will happen to make Kiwibank different three years down the track?

    An economics undergraduate would get torn apart for such witless logic.

  8. higherstandard 8

    Gs

    Douglas was referring to both Labour and National – and he was right they are both as bland and mindless as each other with PR advisers coming out of every orifice demanding that everyone race towards the middle ground on each and every issue.

    I’d like more of the Phil Goff approach but out in the open – when somethings bullshit call it bullshit

    What chance any sensible discussion of the real issues facing NZ over the next decade and beyond during this election campaign zero I suspect.

  9. Razorlight 9

    I am starting to think a Goff lead Labour would be a good thing. Although the move may lose suppoort from the left fringe of Labour they would make it up from voters on the right becoming disillusioned with Key’s stance.

    Goff believe in free trade and the importance of foreign investment.
    He wouldn’t allow Xenophobic politics to stop this.

  10. sdm 10

    So Labour cost me a few thousands with this announcement. I’d like to sue…

  11. Billy 11

    This was just populist politics, and the losers are New Zealander shareholders. By the end the Canadians could have put forward a proposal to buy nothing more than a jam doghnut at the kiosk and Cullen would have said they’d failed to demonstrate it was in the country’s national interest.

Recent Comments

Recent Posts

  • Government to review housing settings
    New Zealand’s stronger-than-expected economic performance has flowed through to housing demand, so the Government will review housing settings to improve access to the market, the Finance Minister Grant Robertson announced today. “Our focus is on improving access to the housing market for first home buyers and ensuring house price growth ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Crown accounts reflect Govt’s careful economic management
    The better-than-expected Crown accounts released today show the Government’s careful management of the COVID-19 health crisis was the right approach to support the economy. As expected, the Crown accounts for the year to June 2020 show the operating balance before gains and losses, or OBEGAL, was in deficit. However that ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Community launch marks next step in addressing racism in education
    The launch of Te Hurihanganui in Porirua today is another important milestone in the work needed to address racism in the education system and improve outcomes for Māori learners and their whānau, Associate Education Minister Kelvin Davis says. Budget 2019 included $42 million over three years to put Te Hurihanganui ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Government to consider recommendations on DNA use in criminal investigations
    The Minister of Justice has received the Law Commission’s recommending changes to the law governing the way DNA is used in criminal investigations. The report, called The Use of DNA in Criminal Investigations – Te Whahamahi I te Ira Tangata I ngā Mātai Taihara, recommends new legislation to address how ...
    BeehiveBy beehive.govt.nz
    13 hours ago
  • Speech to Wakatū Nelson regional hui on trade
    First, I want to express my thanks to Te Taumata for this hui and for all the fantastic work you are doing for Māori in the trade space. In the short time that you’ve been operating you’ve already contributed an enormous amount to the conversation, and developed impressive networks.  I ...
    BeehiveBy beehive.govt.nz
    15 hours ago
  • Speech to Primary Industries Summit
    Thank you for the opportunity to speak to you today about the significant contribution the food and fibres sector makes to New Zealand and how this Government is supporting that effort. I’d like to start by acknowledging our co-Chairs, Terry Copeland and Mavis Mullins, my colleague, Agriculture Minister Damien O’Connor, ...
    BeehiveBy beehive.govt.nz
    16 hours ago
  • Fast track referrals will speed up recovery and boost jobs and home building
    The Government is taking action to increase jobs, speed up the economic recovery and build houses by putting three more projects through its fast track approval process. “It’s great to see that the fast-track consenting process is working. Today we have referred a mix of potential projects that, if approved, ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Papakāinga provides critically needed homes in Hastings
    A papakāinga opened today by the Minister for Māori Development the Hon Willie Jackson will provide whānau with much needed affordable rental homes in Hastings. The four home papakāinga in Waiōhiki is the first project to be completed under the ‘Hastings Place Based’ initiative. This initiative is a Government, Hastings ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • New Zealand ready to host APEC virtually
    Prime Minister Jacinda Ardern took over the leadership of APEC earlier today, when she joined leaders from the 21 APEC economies virtually for the forum’s final 2020 meeting. “We look forward to hosting a fully virtual APEC 2021 next year. While this isn’t an in-person meeting, it will be one ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Revival of Māori Horticulturists
    The rapid revival of Māori horticulture was unmistakeable at this year’s Ahuwhenua Trophy Awards, with 2020 marking the first time this iconic Māori farming event was dedicated to horticulture enterprises. Congratulating finalists at the Awards, Māori Development Minister Willie Jackson said growing large-scale māra kai is part of Māori DNA. ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Emergency benefit to help temporary visa holders
    From 1 December, people on temporary work, student or visitor visas who can’t return home and or support themselves may get an Emergency Benefit from the Ministry of Social Development, Social Development and Employment Minister Carmel Sepuloni announced today. Previously, temporary visa holders in hardship because of COVID-19 have had ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • School sustainability projects to help boost regional economies
    Forty one schools from the Far North to Southland will receive funding for projects that will reduce schools’ emissions and save them money, Education Minister Chris Hipkins announced today. This is the second round of the Sustainability Contestable Fund, and work will begin immediately. The first round announced in April ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Farmer-led projects to improve water health in Canterbury and Otago
    More than $6 million will be spent on helping farmers improve the health of rivers, wetlands, and habitat biodiversity in Canterbury and Otago, as well as improving long-term land management practices, says Agriculture Minister Damien O’Connor. Four farmer-led catchment group Jobs for Nature projects have between allocated between $176,000 and ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • Tupu Aotearoa continues expansion to Pacific communities in Nelson, Marlborough, Tasman & Northl...
    Pacific communities in Nelson, Marlborough, Tasman and Northland will benefit from the expansion of the Tupu Aotearoa programme announced today by the Minister for Pacific Peoples, Aupito William Sio. The programme provides sustainable employment and education pathways and will be delivered in partnership with three providers in Northland and two ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • New primary school and classrooms for 1,200 students in South Island
    Education Minister Chris Hipkins unveiled major school building projects across the South Island during a visit to Waimea College in Nelson today. It’s part of the Government’s latest investment of $164 million to build new classrooms and upgrade schools around the country. “Investments like this gives the construction industry certainty ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Minister of Māori Development pays tribute to Rudy Taylor
      Today the Minister of Māori Development, alongside other Government Ministers and MP’s said their final farewells to Nga Puhi Leader Rudy Taylor.  “Rudy dedicated his life to the betterment of Māori, and his strong approach was always from the ground up, grassroots, sincere and unfaltering”  “Over the past few ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Prime Minister to attend APEC Leaders’ Summit
    Prime Minister Jacinda Ardern will attend the annual APEC Economic Leaders’ Meeting and associated events virtually today and tomorrow. “In a world where we cannot travel due to COVID-19, continuing close collaboration with our regional partners is key to accelerating New Zealand’s economic recovery,” Jacinda Ardern said. “There is wide ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Speech to Infrastructure NZ Symposium
    Tena Koutou, Tena Koutou and thank you for inviting me to speak to you today. This is a critical time for New Zealand as we respond to the damage wreaked by the global COVID-19 pandemic. It is vital that investment in our economic recovery is well thought through, and makes ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Pike River 10 Year Anniversary Commemorative Service
    Tēnei te mihi ki a tātau katoa e huihui nei i tēnei rā Ki a koutou ngā whānau o te hunga kua riro i kōnei – he mihi aroha ki a koutou Ki te hapori whānui – tēnā koutou Ki ngā tāngata whenua – tēnā koutou Ki ngā mate, e ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Huge investment in new and upgraded classrooms to boost construction jobs
    Around 7,500 students are set to benefit from the Government’s latest investment of $164 million to build new classrooms and upgrade schools around the country. “The election delivered a clear mandate to accelerate our economic recovery and build back better. That’s why we are prioritising construction projects in schools so more ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Keeping Pike River Mine promises 10 years on
    Ten years after the Pike River Mine tragedy in which 29 men lost their lives while at work, a commemorative service at Parliament has honoured them and their legacy of ensuring all New Zealand workplaces are safe. Prime Minister Jacinda Ardern attended the event, along with representatives of the Pike ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Additional testing to strengthen border and increase safety of workers
    New testing measures are being put in place to increase the safety of border workers and further strengthen New Zealand’s barriers against COVID-19, COVID-19 Response Minister Chris Hipkins said today. “These strengthened rules – to apply to all international airports and ports – build on the mandatory testing orders we’ve ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • More public housing delivered in Auckland
    The Government’s investment in public housing is delivering more warm, dry homes with today’s official opening of 82 new apartments in New Lynn by the Housing Minister Megan Woods. The Thom Street development replaces 16 houses built in the 1940s, with brand new fit-for-purpose public housing that is in high ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Agreement advanced to purchase up to 5 million COVID-19 vaccines
    The Government has confirmed an in-principle agreement to purchase up to 5 million COVID-19 vaccines – enough for 5 million people – from Janssen Pharmaceutica, subject to the vaccine successfully completing clinical trials and passing regulatory approvals in New Zealand, says Research, Science and Innovation Minister Megan Woods. “This agreement ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Jobs for Nature funding will leave a conservation legacy for Waikanae awa
    Ninety-two jobs will be created to help environmental restoration in the Waikanae River catchment through $8.5 million of Jobs for Nature funding, Conservation Minister Kiritapu Allan announced today. “The new funding will give a four-year boost to the restoration of the Waikanae awa, and is specifically focussed on restoration through ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • New Dunedin Hospital project progresses to next stage
    As the new Dunedin Hospital project progresses, the Government is changing the oversight group to provide more technical input, ensure continued local representation, and to make sure lessons learnt from Dunedin benefit other health infrastructure projects around the country. Concept design approval and the release of a tender for early ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Jump in apprentice and trainee numbers
    The number of New Zealanders taking up apprenticeships has increased nearly 50 percent, and the number of female apprentices has more than doubled. This comes as a Government campaign to raise the profile of vocational education and training (VET) begins. Prime Minister Jacinda Ardern and Education Minister Chris Hipkins announced ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • ReBuilding Nations Symposium 2020 (Infrastructure NZ Conference opening session)
    Tena koutou katoa and thank you for the opportunity to be with you today. Can I acknowledge Ngarimu Blair, Ngati Whatua, and Mayor Phil Goff for the welcome. Before I start with my substantive comments, I do want to acknowledge the hard work it has taken by everyone to ensure ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • New Zealand's biosecurity champions honoured
    Biosecurity Minister Damien O’Connor has paid tribute to the winners of the 2020 New Zealand Biosecurity Awards. “These are the people and organisations who go above and beyond to protect Aotearoa from pests and disease to ensure our unique way of life is sustained for future generations,” Damien O’Connor says. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Tourism Industry Aotearoa Conference
    speech to Tourism Industry Aotearoa annual summit Te Papa,  Wellington Introduction Nau mai, haere mai Tēnā koutou, tēnā koutou, Ka nui te mihi, ki a koutou. Thank you Tourism Industry Aotearoa for hosting today’s Summit. In particular, my acknowledgements to TIA Chair Gráinne Troute and Chief Executive Chris Roberts. You ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Supermarkets announced as Government’s second market study
    The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries.   “Supermarkets are an integral part of our communities and economy, so it’s important to ensure that Kiwis are getting a fair deal at the checkout,” Minister of Commerce and Consumer ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Masks to be worn on Auckland public transport and all domestic flights
    Masks will need to be worn on all public transport in Auckland and in and out of Auckland and on domestic flights throughout the country from this Thursday, Minister for COVID-19 Response Chris Hipkins said today. “I will be issuing an Order under the COVID-19 Response Act requiring the wearing ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New Zealand signs Regional Comprehensive Economic Partnership
    Increase to New Zealand’s GDP by around $2 billion each year Increase opportunities for NZ exporters to access regional markets Cuts red tape and offers one set of trade rules across the Asia Pacific region New government procurement, competition policy and electronic commerce offers NZ exporters increased business opportunities Prime ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister acknowledges students as exams begin
    Education Minister Chris Hipkins has recognised the extraordinary challenges students have faced this year, ahead of NCEA and New Zealand Scholarship exams which begin on Monday. “I want to congratulate students for their hard work during a year of unprecedented disruption, and I wish students all the best as ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister meets with key ASEAN and East Asia Summit partners
    Prime Minister Jacinda Ardern today attended the ASEAN-New Zealand Commemorative Summit and discussed with Leaders a range of shared challenges facing the Indo-Pacific region, including: The ongoing management of the COVID-19 pandemic; The importance of working collectively to accelerate economic recovery; and Exploring further opportunities for partners to work more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Veterans Affairs Summit held in Korea
    A Ministerial Summit on Veterans’ Affairs was held in the Republic of Korea this week. Ministers with veteran responsibilities were invited from all 22 countries that had been part of the United Nations Forces during the Korean War (1950 – 1953). The Summit marked the 70th anniversary of the outbreak ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Clear direction set for the education system, skills prioritised
    The Government has released a set of priorities for early learning through to tertiary education and lifelong learning to build a stronger, fairer education system that delivers for all New Zealanders. “The election delivered a clear mandate from New Zealanders to accelerate our plan to reduce inequalities and make more ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • A Progressive Agenda
    Speech to the Climate Change + Business Conference, November 12, 2020 Tena koutou katoa Thank you for inviting me to speak here today. It is great to see us all come together for a common cause: to redefine our future in the face of unprecedented times.  Covid-19 and climate change are ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Wellington Pasifika Business Awards
    Thank you for having me join with you as we celebrate the success of Pacific businesses tonight, and recognise the resilient and innovative entrepreneurs who lead them. Equally important to me is, that we are also able tonight to offer up our gratitude to those leaders who have organised and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Commemorative address at Act of Remembrance for Armistice Day
    Tuatahi māku  Ka mihi tu ki a koe Pita E pīkauria ana i te mana o Ngā tūpuna o te whenua nei. Thank you Bernadette for your warm introduction. I would also like to reflect on your acknowledgments and welcome Peter Jackson, Taranaki Whānui; Members of the National War Memorial ...
    BeehiveBy beehive.govt.nz
    2 weeks ago