Govt goes ahead with share sale
Mon, 15 Oct 2012 3:45p.m.
By 3 News online staff
The Government is forging ahead with its asset sales agenda, choosing not to adopt the ‘shares plus’ option suggested by the Waitangi Tribunal.
Prime Minister John Key announced this afternoon there will be no further negotiations with Maori on the issue of water ownership after the Government’s hui with affected iwi.
He says the Government will now focus on removing Might River Power from the State Owned Enterprises Act and preparing it for partial sale.
The ‘shares plus’ option was mooted by the Tribunal to give iwi shares in conjunction with enhanced power on the boards of these companies.
But Mr Key says that will not happen because it would create a conflict of interest between iwi and weaken their relationship with the Crown.
The decision not to settle the dispute over water ownership means the Government is likely to be on the receiving end of legal action from the Maori Council and other interested parties.
Mr Key says if the Council wants to take the Government to court, they can.
“That’s entirely a matter for them. From the Government’s perspective, it would not be unexpected,” he says.
The Government position on water ownership is:
In common law no one owns water;
Maori do have rights and interests in water, and these will continue to be addressed through a range of processes such as Treaty settlements, the Government’s Fresh Start for Fresh Water programme and dialogue with iwi leaders;
The partial sale of Mighty River Power does not impact on the Crown’s ability to recognise Maori rights and interests in water.
Forty-nine percent of Mighty River Power is planned to be floated next year between March and June.
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17/10/2012 6:24:24 a.m.
John Key's and his failures trying to sell out on shares to pleases the buys and to recieved payments to pay for the damages that caused since he was elected.
Key in nothing but full of false promises and crabs' example of the Pike River and the 29 dead miners families that he failed to follow up on those promises, but to went on to Hollywood to collect his pay off over the captured of Dotcom and his CopyRights' he think'.
16/10/2012 10:33:51 a.m.
Great retirement fund for shonkey and mates. Stuff NZers.
16/10/2012 8:50:40 a.m.
Carlos - Im with you mate, can't wait to buy them either, I have mainly solar energy so it won't effect me much, unless the Maori try and go for ownership of the sun What a Joke!
15/10/2012 6:56:01 p.m.
Time for an independent inquiry into the impacts of the governments privatisation of power companies on the power price increases that this will impose.
Privatisation will change the power companies focus on providing reasonably priced power charges to providing higher returns for shareholders at the expense of power users.
Likewise there is also a need to assess the economic impacts of this change on the economic feasibility of imposing the resultant power price increases upon manufacturers and other businesses operations.
So in addition to the governments ignoring Maori rights and interests in water this government also needs to be held accountable for the resultant adverse economic impacts for the rest of us.
15/10/2012 6:41:54 p.m.
@Carlos, i think you'll find it at the bottom of the pig-trough where you lot dwell, no worries though, when you're gorging yourselves the rest of us will be creeping up behind.
15/10/2012 6:04:44 p.m.
More money for JK and his mates.
15/10/2012 5:59:57 p.m.
LOL! John Key is doing is what all New Zealand Governments do best & that is sell off its own Companies to make a Quick Buck, it will probably be some Americans or Chinese Investors who buys the most shares in these Companies.
15/10/2012 5:28:17 p.m.
Another case of John Key not listening to NZers. He was never going to listen, and he never will.
15/10/2012 4:50:52 p.m.
Peter Cox wrote:
At last......about time to deal with questionable "interests" with wishy-washy "justifications" for their existence trying to elbow their way into the "money pool".....has arrived !Now NZ can down to business properly.Peter,Taihape.
15/10/2012 4:42:13 p.m.
helen time wrote:
this is john key feathering his own nest .
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