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Kiwis could leave and still get share bonus

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Kiwis could leave and still get share bonus

3News NZ

NZ First MP Andrew Williams

NZ First MP Andrew Williams

The prospect of thousands of Kiwis buying shares in state-owned energy companies, qualifying for a bonus and then fleeing to Australia is being raised by NZ First.

The Government has announced a loyalty share bonus scheme for New Zealanders who buy shares in Mighty River Power when it is partially privatised.

They will get the bonus if they hang on to their shares for about three years - an incentive designed to keep the company in New Zealand hands.

But NZ First MP Andrew Williams says there's nothing to stop them crossing the Tasman and still collecting the bonus.

He questioned Finance Minister Bill English about that in Parliament on Tuesday, asking whether they would still qualify for the bonus shares if they quit the country.

"Of course they will," Mr English said.

Mr Williams says that's bizarre.

"National sees nothing wrong with selling off assets currently owned by all New Zealanders to people who then flee in their thousands to Australia for a brighter future," he said.

Parliament had earlier been told by Labour's David Parker that 158,167 people had left for Australia since November 2008 - of those, 53,763 left last year.

NZN

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Comments

29/07/2012 1:31:33 p.m.

liberte wrote:

National has got itself into a corner on it's "bonus scheme" which should have been more carefully thought through before an anouncement was made. liberte

25/07/2012 6:30:38 p.m.

Carlos wrote:

Excellent !

25/07/2012 5:47:12 p.m.

clairbear wrote:

So what - in crossing the Tasman are they giving up their New Zealand citizenship? They are still Kiwi's until the do that. They always have full rights to return at any time. Many Kiwis will return once the knockers of everything perhaps decide to focus more on what they can do to move NZ forward and not what is wrong with every little nitpicking thing that might help to move us forward. As to going to Australia, I have lived in 7 countries, I have worked in 12 countries, several of those via my New Zealand based company (export of services) and NZ is still my home. Any politician worth their salt would have lived and worked overseas, even the infamous Helen Clark is living overseas. The people going to Australia right now are doing their bit for NZ, the world is in a mess - NZ is having a struggle and yet due to resources Australia has work (the only country not to go into recession). Better to go get a job in Aus for a while than go on the dole and bludge off your own country.