Labour and consistency. Never the twain shall meet



Katie Bradford-Crozier writes at ZB

International interest in the Mighty River Power float was high, so 13.5 per cent of the company will now be owned by overseas investors.

The Finance Minister revealed details of the share allocation and pricing of the energy company last night.

113,000 Kiwis have bought shares, at $2.50 a pop.

Bill English says offshore institutions have been allocated $472 million worth of shares – but those were limited to ensure 86.5 per cent of the company was kept in New Zealand hands.

No wonder the share price hasn’t crashed to the $2.00 – $2.20 level that the Green Taliban and Labour were crowing about.  There is genuine interest in the Mighty River Power float.

Mr English is eagerly anticipating the company officially being floated.

“A lot of New Zealanders will understand at that point that selling off 49 per cent of these companies is not the end of the world.

“In fact it’s going to give New Zealand government $1.7 billion to invest in other assets that New Zealanders will own.”

But Labour’s Clayton Cosgrove thinks that figure is a joke.

“You sell a revenue generating asset, you buy non-revenue generating assets, and eventually the money runs out.”

Here’s where it gets silly.

NZ Power wasn’t going to pay dividends to the Government to free up some money and create the amazing reduction of about $1 per household, per day.

So why is Cosgrove now lamenting the loss of “revenue generating assets”, when the whole idea begind the NZ Power rort was to stop paying dividends to the government in the first place?

One of the outcomes of NZ Power would be the loss of income to the government, and if you do your sums, it’s not hard to see that the Green Taliban and Labour don’t really expect to operate NZ Power any more efficiently – they simply ar rebating the dividends back to the public.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.