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, 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 Governmentâs 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.