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.  

“Three-quarters of eligible New Zealanders said no they either weren’t going to engage or voted for them.

“Three in four New Zealanders said no we don’t agree with Labour and the Greens. I think it will be a dismal failure from their point of view.”

Key said the referendum was not needed, claiming the Government had been re-elected at the 2011 General Election partially on the basis of the pending shares sell-off.

The results of the postal referendum was bad news for the opposition, he said.

He added Labour leader David Cunnliffe [SIC] was “a bit deluded” in claiming the referendum was a victory for the anti-asset sales movement.

“I genuinely think Labour and the Greens will be very disappointed,” Key said.

What a remarkably government-positive article that is.  Want to guess who published it?

No, not the Herald.  *snigger*  Neil Reid at Fairfax:

The partial sale of Genesis Energy is set down for the first half of 2014.

Finance Minister Bill English described the share sales programme as an important part of the Government’s economic plan aimed to deliver more jobs, control debt and give New Zealanders one of the higher growth rates among developed countries.

“It has so far generated $4b which we are investing in new public assets like schools and hospitals without borrowing from foreign lenders,” English said.

“Quite simply, we now have $4b less debt than we would have otherwise have had. If Labour and the Greens would rather have full State control of the companies and higher public debt, they should promise to borrow $4b to buy back Mighty River Power, Meridian Energy and Air New Zealand.”

Watch National try and manoeuvre both The Green Taliban and Labour into a corner about this.  Let them put their our someone else’s money where their mouths are.  Are they going to commit to fully own these companies while paying interest on borrowed money to do so?


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  • rrroberto

    Can the math be done… debt servicing costs for the borrowed 4bn to buy the part assets, versus the revenue generated from those partial assets, then lets see how Wussel and Silent T can provide the discounted electricity prices( factor in the costs of setting up and administering Kiwi Power).

    • Mr_Blobby

      Pre sale 18% ROI, cost of Govt borrowing about 2-3% so the question is why would you.

      Then on the other side. Given the Government monopoly, how do we feel about successive Governments (National and Labour) ripping of the general public with outrageous price increases and power prices. Especially given that the Dams, in particular, were built and paid for a generation ago.

      It might be hard for the site Troglodytes to look impatialy at this.

    • rockape

      Yes and of course the Labour /Green policy of driving down electricity prices also affected to potential dividend.So not only did their action lose us capital it also cost us yield from dividends. Thanks lefties a great service to NZ

  • dilligaf2013

    Such an acurate description of one tie Cuniliffe – “a bit deluded”

    • John

      Only a bit? he is so off the planet he thinks he won the referendum, I expect he will keep digging.

      • dilligaf2013

        John Key was being polite and understated as ever

    • Alfred12

      Don’t forget the “stonking victory” in Christchurch East.

      • Sir Cullen’s Sidekick

        Labour won comfortably crushing the useless National candidate…don’t you ever forget bro…

        • Alfred12

          Indeed they did SCS, given they have held it since 1922 hardly a surprise really. I read somewhere cunnys pet rat or a large gorilla wearing a red ribbon would have won this seat.

          • Bunswalla

            Well it was won by a Potato wearing a red rosette, so you’re’re pretty close.

        • Bryan

          i would still like to know where the 4000 postal votes came from as every person by law has to when they shift and change their address which in many cases put a lot of people who had moved from east into waimakariri so they were no longer eligable to vote in Christchurch East, and we know anderton spent a lot of time trying to track down people who had moved so who is to say he actually found them and they actually voted, it was a very high postal vote for a by election so personally i would take that win with a grain of salt only

  • Col

    Yes it can be done, if you look at the Greens they just think if you print money it will be ok, yea right, of course Noddy Norman has distance himself from this now. Just think if we had Labour, Greens as Govt and they did what the said they were going to do a year or so ago????? Food for thought.

  • Bart67

    Well, I think John Key should take heed of the result. As so many people are against selling up to 49% of shares in power companies, coal and airlines, he needs to be cognizant of the will of the people. Only 49%? Sell the fucking lot!

  • GazzW

    Watch now for a concerted treasonous effort by the green/labour coalition to drive down the value of Genesis to the absolute max. Let’s see exactly what they do and hold the bastards to account. Cunliffe’s running mate, Noddy Norman, will probably go as far as threatening state confiscation of Genesis to frighten off ma & pa investors.

    • Pissedoffyouth


    • Clareta

      what Peggy implied I’m startled that a single mom can get paid $4154 in one month on the internet. visit this site right here

    • Cadwallader

      Buy into Genesis anyway! Norman will’ve gone walkabout around Ayers Rock again within a few more years. I wager the dingos would spit him back.

  • pureant

    Yep John is probably comfortable”

  • pureant

    Yep John is probably “comfortable” with the result and “looking forward” is “excited about” various shit. The poll was clearly a victory for National, yep, Ai yai yai, so there it is , our leaders going full tit.

    Thank the deities for sign language to provide better comedy elsewhere.

  • cows4me

    Call me cynical or even conspiratorial but I believe the government are dumping these assets because they are aware that alternate power generating technologies are on the horizon that will make hydro dams look like dinosaurs. There are hundreds of different inventions that are now claiming the generation of electric power doesn’t require huge dams or the massive burning of fossil fuels. While some are indeed hoaxes quite a few are being taken very seriously by governments. I’ve read that both the Japanese and the Italians are both developing different alternate systems. If you knew that you had billions tied up in systems that overnight may become obsolete then it’s fire sale time.

    • Macca

      Totally agree. But could you imagine the effort of trying to explain this to a left leaning politician and hoping they would comprehend the message? Let alone your average left voter when all their party could tell them was “Don’t believe a word of it, it’s just that nasty old National Gummint selling all our assets to their rich mates”!

    • pureant

      You mean like Wind, solar, geothermal?

      Hmmm that will rock the boat overnight.

    • Blueballs

      Your right, i heard the jappos have developed a pacific rim energy technology which will be available to all of us shortly, what they propose is to super charge the Pacific ocean with enough nuclear waste that all we’ll have to do is run an extension cord down to the waters edge and bingo, free power for ever baby!

    • Gordon Gibson

      Cows, buy the book ‘Suppressed Inventions’.

      • cows4me

        Read that about 10 years ago Gordon, I’m afraid things have moved on a bit since them. Just last week WOBH ran a you tube clip on new wielding technology that produces a flame from burning hydrogen removed from tap water. This in it’s self only suggests the use of electrolysis but at an extremely fast rate. I’m sure many will label me a crank, don’t give a flying fuck. I say give it a couple years and see what happens.

        • unitedtribes

          If scientists are involved at all it will be available next year every year

          • cows4me

            No doubt about that.

          • Get a Grip!

            Reminds me of the sign I saw in a bar in Thailand recently:

            FREE BEER!!!!!!!!!!!!!!!!!


        • Cadwallader

          I do not see huge merits in wind-power…solar is great for limited uses but fossil fueled vehicles are here for awhile yet! (I have spent this morning drooling over a new V8 Audi!!! Yum yum!)

          • cows4me

            I see no real merits in wind or solar either, what I’m talking about are technologies that make these totally redundant. I’m positive they exist but due to a combination of politics, corporate greed and military suppression they are slow to emerge, they shall though as the world shrinks and information is easily transferred .

          • Gordon Gibson

            Family I know in Micronesia installed a windmill thingy for their business and home. About 2 metres diameter.
            Trouble was for first three months they went through a protracted period of stuff all wind. I reckoned I could make more electricity by rubbing my ball sack up and down the back of Grandma’s old velour couch.

  • Alfred12

    Earlier this year I had concerns due to a couple of polls showing next years elections to close to call. Now Cunny is the new leader my worries have gone. JK will destroy him in the election debates. The guy is a complete knob and has the public persona of a wet blanket!

    • Gordon Gibson

      A thumb too!

  • baw

    Could not be bothered voting. Everybody knows that their vote did not matter.

    I recall Kiwiblog being supprised that the Yes vote was so high.

  • toryboy

    The government owning businesses is morally wrong – that is socialism and evil.

    All assets should have been sold back in 1988 – 90 the first time; in the 25 years since then nobody has benefitted from owning power stations, or TVNZ or silly radio stations nobody listens to.

    There are far too many stupid people who have a misguided view on what an asset actually is, and all this talk about dividends going offshore is rubbish and Mr Key is doing the right thing by simply ignoring the ‘moronry’.

    • Gordon Gibson

      ‘Moronry’ – word of the day tory me lad.

      • Alfred12

        I saw the word “moronocracy” on kiwi blog this morning. Excuse the spelling. Thought that described the voting population rather well.

        • Gordon Gibson

          Alfred, I was once being ‘honed out’ by a very angry boss in North Queensland.
          At the end of his tirade he shouted : “On your part it’s just ignorancy” ! !
          Whenever I want make myself chuckle, I think of that.

    • Cadwallader

      Agree. I recall in the 1980s Richard Prebble making the salient observation that in NZ we are OK with privately owned newspapers but to run a radio station required all sorts of jiving…perhaps it was to protect Radio Socialism?)

    • Patrick

      The fact that Labour used the state owned electricity generators to tax the hell out of people via exorbitant electricity charges during their last time in government seems to escape those now opposed to the sell down of assets. There is no way governments should be allowed to do this, that is the great thing about Key’s asset sales, take that method of hidden taxation away from Labour, forcing them to be slightly more honest with the voters.

      • rockape

        Tax by stealth thats Government owned assets. Wow how much could they make from water if they really wanted to. Best get things out of reach of the Government monopoly and into the hands of private companies wit as much competition as possible.

      • GazzW

        Mighty River has already announced that there will be no increase in power costs until 2015 at the earliest. So much for foreign interests ripping off the poverty stricken NZ consumer.

  • dilligaf2013

    NZH article says Labour gaining votes as National “ignore” referendum results
    Bloody funny that they are basing this inflamitory statement on a comprehensive survey of 500 respondants…!

    “Asked how the asset sales would affect their vote, 37 per cent of the 500 respondents said they would be much less likely to vote for National”
    Considering this is reflective of Muppet Central and Green Taliban’s fiscal ability, it’s the best laugh I’ve had for ages.
    Totally immature and NOT apolitical reporting.
    So much for the editors promise of comprehensive and apolitical reporting – yeah right

  • Sir Cullen’s Sidekick

    Word on the street is National is going to lose big time in 2014 due to the asset sales policy….

    • Medium Sized Des

      Is their platform going to be the same as last time? Screaming shrilly “Look, Nationals selling some assets!…” Perhaps they could provide some actual points of difference, rather than pointing fingers and stamping their feet?

      • rockape

        Quote from Wikepedia on NZ economy. The 1990 National Government continued the previous Labour governments controversial sale of state owned enterprises following the near collapse of BNZ i 1990.

        • Sir Cullen’s Sidekick

          True Kiwis oppose asset sales – check with Minty Minto and Vomit McCarten….

      • Sir Cullen’s Sidekick

        Look Medium Size – This is what is going to happen. Labourers and the smelling hippies will announce a dedicated tax called – “Asset Buy Back Tax” – a small charge of just 3 cents a dollar will be slapped on all kiwis to collect money to buy back the assets. All Kiwis will happily pay as they are against asset sales. Take that bro!!!

    • GazzW

      Word on the smart street is that all of the planets – trade, employment, social, GDP etc will be in total alignment next year which accompanied by some fresh blood in the MP lineup and some tax cuts will see the Nats in power again and ruling the Treasury Benches alone.

      You’re walking on the wrong street SCS. Maybe it’s Maryan Street.

      • ex-JAFA

        Being on Maryan Street certainly would be wrong.

        • Alfred12

          Very very wrong but paints an interesting picture?

    • Bryan

      and labour is going to lose big time when New zealand finds out about their plans to bring in a whole lot more chinese loan investors which Cunicliffe said on Bejing radio last week, as was reported to me by someone who heard it and have a look at this article from sydney morning herald explaining why chinese are coming down here and into aust and the impact its having. note what it says about chinese govt action

  • Custard

    Well even if there is a favour towards labour here, it shouldn’t be any surprise. And national will know that. All they have to do is make it clear to the swing voters that there is less dept without too many major losses before the next election and they will come back. I actually believe that these results just don’t really show the picture one year out. Labour has been everywhere about this. Naturally votes come with publicity and national have just been chipping away and getting stuff dome. I don’t know many houses where you wouldn’t find a severed hand coming out of a household tv that came fro.m labour throwing their hands in the air. The question that matters is: can labour keep this propaganda tidal wave going and back it up when the government will simply turn around and show that they got the results they were after in mid 2014. Can Cunliffe actually provide and answer to national execution what they said they would, such as working on the deficit? I don’t think they can, they will run out of material to counter the tidal wave of accomplished work done by the government.

  • Stephen

    By middle next year those companies already floated will have got their shit together along with the share market and will be worth much more than the proceeds realized.

    Then will be the real teat. Try asking Labour and the Greens where the extra money is going to come from.

    directors get ya arses into gear.