Tony Ryall continues to hand Labour aÂ historyÂ lesson:
Remember when Labour sold 49 per cent of state owned Spring Creek Mine for millions of dollars to American multi-national Cargill Coal?
In 2007 Labour was happy to sell state owned businesses to foreign interests, now they even oppose everyday New Zealanders buying a share in these companiesâ€ť, says State Owned Enterprises Minister Tony Ryall.
According to the Chairman of Solid Energy in a letter to the editor, the 2007 sale of Spring Creek Mine had approval from the Labour Governmentâ€™s Minister of Finance, and Trevor Mallard, their Minister for State Owned Enterprises.
And, because it was sold to a foreign company, it needed Overseas Investment Office approval.
The National led Government has always been upfront about its minority share offer. We announced it in January 2011.