National unfazed by asset sale protests

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National unfazed by asset sale protests

3News NZ

Prime Minister John Key's plan was popular inside the National Party conference

Prime Minister John Key's plan was popular inside the National Party conference

By Political Editor Duncan Garner

All Kiwis who buy shares in the Government's partial asset sales of state energy companies will get free loyalty shares if they hold them for three years.

Prime Minister John Key's plan was popular inside the National Party conference, but it was shouted down out on the streets.

A small but loud group of protesters surrounded the entrance to tell Mr Key what they thought of his asset sales.

Inside, he had a message for them too – where were they?

“It's a bit light,” says the Prime Minister.

As they protested, he told his supporters there'll be no backdown.

“Our policy of partial asset sales is a win-win and I stand totally behind them,” says Mr Key.

The sale of Mighty River Power will be first to be sold.

John Key has confirmed those Kiwis who buy will get free loyalty shares if they hold them for three years.

As reported by 3 News last night, you'll need $1000 to buy the minimum parcel.

Kiwi investors will be guaranteed up to $2000 dollars worth if they want them.

“We think that's about in the sweet spot. People have the confidence to know they will get $2000 worth if they want and the loyalty bonus if they buy too.”

Mr Key accepts some won't be able to afford it.

“Obviously not everyone can, but we're pitching the offer to many New Zealanders.”

The loyalty shares won't be available to big institutional buyers or for those from overseas.

Mr Key says it's about putting Kiwis first.

“Only the direct Kiwi buyers will get them. The big Kiwisaver accounts, they don't get them.”

Mr Key says the loyalty shares are expected to be offered across all the partial asset sales over the coming few years.

“That would be my thought, unless there's something I don't know about,” he says.

Labour says it's a hoax.

“John Key has turned this into a Ponzi scheme,” says Labour MP Clayton Cosgrove. “We now know that all the people that can’t afford to buy shares will have to pay for the bonus shares for all the people who can afford to get a slice of the action.”

So as the protestors kept shouting, they had forgotten one thing – the back door – that's how Mr Key departed, away from all the fuss.

The Government is still hoping the first sale will go ahead in September and John Key is hoping today's sweeteners will convince New Zealanders that the assets will be a good buy.

But Maori are still promising to take the Government to court over the asset sales and that could delay things.

3 News

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Comments

23/07/2012 4:11:46 p.m.

Carlos wrote:

NZ booted out the losers in 2008....clark, cullen and the rest of the "out of touch champagne pinkos". Things have been far better since.

23/07/2012 2:48:44 p.m.

timetobootouttheloosers wrote:

their is the rich young ruler shaking hands with some body we all know what happened to the rich young ruler don't we . its in the gospel of mark chapter ten .

23/07/2012 1:58:28 p.m.

Mike wrote:

Go to a popular bar in Hamilton and you can see over 1500 people through it on a busy evening. We dont have them as large as Auckland.

Ah, but Hamilton is 'Where its Happening' which must be one of the most stuppid catch phrases for any town/city in NZ. While the opposition parties are definately where its not happening.

Take a rugby match at Eden Park and even with empty seats, can easily get over 30,000.

The protests are a joke, with the protestors about outnumbered by media in some instances.

Eg take a little rain. The organising melted in the rain and the few protestors shrunk to even fewer in the wet. It wasn't even cold in Auckland! Imagine a frost, or a bit of snow like they get further south.

Its like the Maori protests where they hired a few buses with govt funding to walk the length of NZ. They drove around to find spots to create the most disruption, then exited the buses to walk a few metres for the media coverage. Protesting at its most pathetic. Then after getting some takeaways/rest stops from the hard walk off the bus, everyone back on the free bus and onto the next disruption. Some were even paid to be on that protest!

Typically a protestor is collecting welfare as working NZ tends to go to work, not yelling/screaming and waving political signage paid for out of taxpayers money for this/that opposition MP's office.

23/07/2012 10:29:39 a.m.

Carlos wrote:

Only 100,000 signed against asset sales out of 4.3 million people + National won the 2011 Election saying they would sell 49% of assets.......pinkos, you lose !

23/07/2012 6:34:02 a.m.

Given up wrote:

Whats the point in protesting, No matter how hard you voice your objection to it, National will do what ever the hell it likes, That's why there isn't many protesters, because people have come to the conclusion that National has no interest in what NZ'ers want, So much for the term, "The People suggest, the Govt works out how to do it"

22/07/2012 11:58:02 p.m.

Mike wrote:

The protests are real OrgAniZEd!

The unveiling of the Team NZ boat, with no Green/Labour/Mana/NZ First/Union organising like the protests - and they had like 10x the turnout!

Oh but wait! Theres More! The protests had weeks to organise and had heavy media coverage while Team NZ's unvieling was a nothing afair, yet had like 10x the support than the protests!

22/07/2012 10:26:06 p.m.

Jackie wrote:

Yes John Key had a hall full of rich faithfuls what a thrill for that P/P.And he knows that the protesters would over flow the same venue 10,00 times over plus. so he is just fooling himself,when he say!s that his meeting was very strong,by all that attended were not with him.And he had to leave from a rear exit,pansy!s dont bloom for ever.

22/07/2012 9:59:15 p.m.

Craig wrote:

@john if you are going to make an investment you educate yourself. It is your money why wouldn't you ? Term deposit, lowest interest rates in years, if its just sitting in the bank anything's better.

22/07/2012 8:06:55 p.m.

crazy wrote:

and where will these loyalty shares come from? will more assets need to be sold or will he just dilute the worth of the shares already given out, either way lose, lose for all

22/07/2012 7:19:27 p.m.

john wrote:

Why would mum and dad kiwis want to take eg $2,000 out of a term deposit and put it in Mighty River Power? What are the likely returns? Are they going to be better than the bank? This is basic info that ordinary kiwis want to know. I suppose people will just have to trust John Key's assurances. In that case, forget it.