Asset sales

Labour refuse to confirm leaks on Asset buy-back fund

Winston Peters is the one who lacks principles

Winston Peters is the one who lacks principles

Andrea Vance’s sources have her convinced Labour have set aside $100M to buy back NZ assets.

Labour leader David Cunliffe is refusing to be drawn on whether the party will announce plans for a new asset fund, but says he “stands behind public opinion” in opposition to asset sales.

The party is understood to be planning to set aside funds to buy mainly New Zealand assets, partly to woo NZ First leader Winston Peters into coalition.

Labour would likely need the support of both the Greens and NZ First to form a government. It has said a policy costing about $100 million a year is yet to be announced.

$100M a year doesn’t stretch very far. ¬†But it would allow Labour the high road claiming they are “buying back our assets as we can afford it”. ¬† Read more »

Show me the money set to make a return

It looks like Labour is going to conjure a few billion out of nowhere and attempt to fool voters into thinking they will buy back the assets.

Labour is understood to be planning to set aside funds to buy mainly New Zealand assets, partly to woo Winston Peters into coalition.

The party, which would likely need the support of both the Greens and NZ First to form a government, has said it has one policy costing roughly $100 million a year to announce.

It trimmed back its spending plans after the pre-election update from Treasury showed a weaker outlook than May’s Budget.

Yesterday, leader David Cunliffe refused to say whether the remaining announcement related to buying back assets sold by National, but said voters “will certainly know before they cast their vote”.

Finance spokesman David Parker would not be drawn on what the policy was, but said the size of the fund meant “if this was a big asset buy-back fund, it would take 60 years”. ¬† Read more »

Ex Labour MP wants to commence asset sales – “Don’t!”, says Labour MP

I thought asset sales were something the left could never actually permit to happen?

Opposition parties are urging Christchurch City Council not to sell assets to solve its funding shortfall.

A Cameron Partners report, released yesterday, says it may need to find an extra $783 million to $883m by 2019.

The authors put up four options for closing the gap: increase rates, borrow more, get money from insurance payments and sell assets.

Mayor Lianne Dalziel says the council can’t borrow any more money and will look at the other options.

That article would have been so much better had it said “ex-Labour MP Lianne Dalziel…”, and also a lot more honest.

Labour’s Canterbury recovery spokeswoman, Ruth Dyson, says her party will vigorously oppose short-term solutions.

“Asset sales would leave the city worse off financially and strategically in the long term,” she said.

Lianne Dalziel has discovered that once you actually sit there in the seat of power and you don’t have the luxury of chanting thoughtless pre-prepared protest slogans but actually have to solve a problem using practical means, asset sales aren’t of the devil after all.

They never were, of course.  We all sell assets in our private lives and think nothing of it.

 

– NZN via 3 News

Labour says it will buy back assets, but they’ve already spent the cash

It looks like we are going to get yet another “show me the money” moment in this election as Labour spends like drunken sailors.

Labour would look at buying back state assets on a “case-by-case” basis, says the party’s leader David Cunliffe.

“We may well, and we would like to,” Mr Cunliffe told TVNZ’s Q+A this morning.

“And we will take opportunities as they arise and there’ll be more to say about that issue between now and the election I promise you,” he added.

The National-led Government has sold shares in several state owned enterprises including Air New Zealand, Mighty River Power and Meridian Energy.

There is a problem with that glib, uncosted, pulled out of his arse comment.

Read more »

The left LOVE asset sales. What?

It seems asset sales, partial ones at that, are to be resisted at all cost.

Except, of course, if you are a leftie trying to sell them.  Then it is JUST FINE.  Catherine Harris reports

Cutting rights to a large Wellington forestry estate have been sold to US company Resource Management Service (RMS).

Described as one of the largest forestry transactions to hit the open market in recent years, the rights give access to Greater Wellington Regional Council’s 5430-hectare forestry estate near Wellington and in the Wairarapa.

The sale price was undisclosed but LJ Hooker agent Warwick Searle, who handled the sale, said the valuation on the cutting rights was $28.5 million.

He was “very happy” with the figure which exceeded the $31m debt that the council had incurred over the years managing the forests.

The tender process also showed there was “plenty of offshore interest” for forestry assets.
“We’re definitely seeing buyer demand from the US and Europe matching or even surpassing the high level of interest coming from Asia.” Read more »

Cunliffe promises to buy the assets back

in-your-money

Amazing – at the end of his interview on Firstline on Wednesday morning.

David Cunliffe promises that Labour will buy some assets back.

This is new policy, and has gone unreported anywhere else. I came across it as I was reviewing video after my day in court.¬† Read more »

Genesis sale no longer a political hot potato

Remember asset sales?  Remember how the Green-led Labour movement wanted your signatures for a referendum?  Remember how this was all going to end in tears?

With Genesis’ share sales starting today, you would be excused for wondering why this sale isn’t being opposed.

Analysts are picking demand will be high for shares in the country’s biggest electricity retailer, Genesis Energy, when its public offer opens today.

The price for shares in the state-owned energy company was announced at $1.55 last night after a bookbuild with institutional investors. The sale would raise up to $736 million for the Crown.

Finance Minister Bill English said already $620 million had been committed through the bookbuild, which was the first stage of the share offer.

At that price the shares will yield a gross dividend of 14.3 per cent, he said.

State-Owned Assets Minister Tony Ryall said the sale would take them to within the Treasury’s target range for the asset sales, with the sale of all four assets earning $4.7 billion, he said.

I’m sure it has nothing to do with the fact we are close to an election, and the Greens and Labour know the voters are sick and tired of two decades worth of manufactured asset sale outrage. ¬† Read more »

Cartoon of the Day

BURN UP

Credit: SonofaMin

The Green Party Data scammers: Look at their Guidelines

Via the Tipline

An interesting post scanned and captured from an over-excited contributor to the [Standard made] earlier.  Is this what the Greens plan to do with information stolen from their petition harvesting?

early

The Green Party hid behind the old fools in Grey Power for the Assets petition, then sent out paid touts on taxpayers’ money to scoop up data. Like Greenpeace, they love a petition. Do you think it is only because they are wound up about this issue? No, it is because they want to capture your personal details to create a data base. ¬† Read more »

Sell. Sell. Sell.

Headline?   John Key saying the Referendum was a waste of time, proves there is no mandate for change, and was just a political stunt.

Hands up who’s surprised?

Prime Minister John Key says the contentious partial asset sales programme will continue despite the provisional results of the share offer referendum.

More than 1.3 million New Zealanders cast votes in the non-binding citizens initiated referendum; with the preliminary result released on Friday night showing 67.2 per cent did not support the Government’s partial sell-off of Air New Zealand, Mighty River Power, Genesis Power and Meridian Energy.

Only 32.5 per cent of those who cast a vote backed the share floats.

All-up, just 44 per cent of eligible voters took part in the referendum.

Key, speaking this afternoon at the former Hobsonville Airbase north-west of Auckland, described the referendum as a “publicity stunt” which had cost the tax-payer up to $9m.

“Around about a quarter of New Zealanders voted against asset sales,” Key said. ¬† Read more »