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Cabinet to start work on asset sales

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Wed, 14 Dec 2011 1:25p.m.

Key's Cabinet is sworn in by the Governor General

Key's Cabinet is sworn in by the Governor General

Prime Minister John Key's new cabinet has been sworn in and will hold its first meeting on Wednesday afternoon.

Mr Key says it will get to work on the partial sale of state assets, its most controversial policy during the election campaign.

It plans to sell 49 percent of four state-owned power stations and a bigger slice of Air New Zealand.

Governor-General Sir Jerry Mateparae handed out the warrants for 20 cabinet ministers and eight ministers outside cabinet at a Government House ceremony on Wednesday morning.

Key's new Govt sworn in by Gov Gen  

Mr Key formed his government after signing support agreements with ACT, United Future and the Maori Party, which gave him 64 votes in the 121-member Parliament.

Labour's new leader, David Shearer, will announce his front bench line-up before parliament meets next Tuesday when MPs will be sworn in.

It opens next Wednesday when Sir Jerry will read the speech from the throne setting out the government's agenda.

NZN

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Comments

14 Dec 2011 06:48p.m.

merlin wrote:

Well Wilbur people like you let it all happen because you have been sucked into $$$$ as being the be all and end all. The economic crisis (worldwide) is because everything runs on debt, over expenditure and individuals are encouraged to be the same (slaves to debt). A country like NZ can easily support its population in great style as should be our primary focus. Most of the debt is for needless junk from over production in all sectors. Anway Willby mate I am entitled to my veiw as you are to yours, so why dont you try putting your ideas in the comments for others to chew on instead of attacking those that dont share your $ based ideas.

14 Dec 2011 05:21p.m.

Gosh wrote:

Really now lets educate ourselves on the facts shall we. There will be no assets sold, only partal shares of assets with Kiwis having first dibs.

If National was silly enough to borrow more money on top of what the Labour Govt before him had, the interest repayments alone would almost guarantee full assets sales to non Kiwi.

Now stop playing into the media hype, stop crying about how popular John Key is and go invest in NZ and buy some shares. That’s what a real Kiwi would do.

14 Dec 2011 03:35p.m.

Wilbur wrote:

Why do idiots like you Merlin continue to talk utter rubbish?? Most intelligent people understand that 'Partial' assets sale are a far far better idea than borrowing more money in an unstable economy. Did you hear the news yesterday that Air New Zealand's International Flight Operations are losing a Million dollar a week?? Who is paying for this?? Tax Payers of course. Perhap you should take the time to learn a bit about these assets that are being 'Partially' sold before you comment? As for the power companies being 'Partially' sold off....how profitable are they?? Answer....they are marginal and need serious money spent on upgrading plant. Selling part of these unprofitable Assets may actually mean NZ is better off. But I don't expect you to understand this concept.

14 Dec 2011 03:25p.m.

merlin wrote:

And a further thought - if you or I flogged off the bosses assets we would find ouselves before the judge answering charges of fraud, abuse of a position of trust, theft as a servant or maybe a string of ther charges by the Serious Fraud office - not the same you say? Well maybe our lousey laws may allow the politicians to do it but it is none the less wrong ethicaly, moraly and deocraticaly.

14 Dec 2011 02:43p.m.

Fairer NZ wrote:

Now let us see where the maori party will head for, in the debate on asset sales??I thought that the government was in recess until Feb next year?what on earth is there such a rush on Christmas time too push through on the Asset sales,Maybe they have those thousands of Christmas dollars backdated to July something like $7,500 plus that they need to invest before it collects dust.Pensioners did well $7-00 in the past year,without counting the increase in living costs etc,not too bad after paying taxes over 52 years and receive little over $270 per week too live on,after paying double that amount in heavy industry work per week in taxes.Yet others out there have not payed any taxes,yet get more than I do to live on.

14 Dec 2011 02:37p.m.

merlin wrote:

Our illustrous PM cant count (so much for being a successful business man before deciding to become a dictator) Key maintains that getting re elected is an OK to go ahead with selling of yours and my property (state assets belong to the people of NZ not the nat party or any other) but for anyone that can count the majority of voters voted against the nats (or gnats) all be it spread over several parties. Wake up people before there is nothing to wake up to (except even more slavery) These politicians forget that they are given a job to do for the boss - the boss being the citizens of nz - any other of us would get sacked pretty smartly if we blatantly went against what the boss wanted us to do. Politicians are there to look after the affairs of the country on behalf of the citizens - its their job that they are paid handsomley for not a free hand to screw the citizens at every turn and flog off the family silver and introduce every hair brained sheme that can come up with. as for these deals that these power hungry "would be if they could be" parties broker between then without the voters consent is absolutley mind bogling. The sheer arrogance of politicians leaves me wanting for words.....