Stupid Mighty River Selloff A Charade Says Peters

Press Release – New Zealand First Party

New Zealand First describes the Mighty River share sale announcement as the start of the total privatisation of the country’s hydro-electric power generation system. Rt. Hon Winston Peters Leader NZ First
December 15 2011

Stupid Mighty River Selloff A Charade Says Peters

New Zealand First describes the Mighty River share sale announcement as the start of the total privatisation of the country’s hydro-electric power generation system.

Rt Hon Winston Peters says the Finance Minister has already been around Asian markets promising shares to investors and his soothing noises about Mum and Dad investors are a charade.

“The minister does not say how Mum and Dad investors are going to get what the government is promising.

“He does not say what is going to happen to ownership and control of the waterways and lakes that provide water for Mighty River power stations.

“He does not say what is going to happen to power prices when the system is partially, and then fully privatised.”

Mr Peters says the vast majority of New Zealanders oppose the asset sales because the numbers simply do not stack up and there is a big danger control of the country’s energy systems will fall into foreign hands.

“All the share speculators and gamblers – National’s friends will be at the front of the queue. The shares will be sold into overseas hands in a matter of months.

“It is far more beneficial for New Zealand to retain ownership of its energy systems. The return is three times higher than servicing debt.

“The ‘New Zealand For Sale’ sign is hanging up for everyone to see,” says Mr Peters.

ENDS

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