There is increasing concern about New Zealand’s housing situation, with an escalation in homelesssness, people living in totally unacceptable conditions, and the lack of sufficient affordable housing stock.Update: Government close to unveiling plans for “cheap” housing on city fringe and ‘brownfield’ sites.
Only 12 people turned up to Key’s first sham talks with iwi. He might have gotten a better turnout if he had come with cupcakes or, you know, a genuine intention to negotiate in good faith.
It seems that whenever a matter arises that involves some claim of collective ownership or control by Maori, John Key comes up with what he describes as an ‘elegant solution’. If Key can come up with a string of such solutions I thought maybe I could give it a try. Therefore, this is my attempt at developing an ‘elegant solution’ to the matter of Maori claims to the ownership of water.
The Nats are beginning their sham consultation with a handful of tame ‘Iwi Leaders’ today. The hui will be by invitation and will not include the Maori Council, which iwi have appointed to lead for them on the water rights issue. Of course, National doesn’t want a real debate. It won’t genuinely discuss shares plus. This is a fake process. And it will all end up in court next year.
Something’s missing from Labour’s position on asset sales. It’s what it will do with the partially privatised companies (if the sales do go […]
Steven Joyce is meant to be the Jobs Czar. So, what’s his reaction to another hundred job losses yesterday at the Bluff smelter and the threat of the loss of 3,200 more? “If [Tiwai Pt closed], it would adjust different things like investment profiles and all sorts of things” but no worries because Rio Tinto and Meridian will “come to some arrangement”.
The National/Act government wants to sell essential public infrastructure assets that we all own, and that returns a public dividend, to a few of its mates. It’s private appropriation of public assets that causes the problem. Take that away and the problem becomes different, and resolution much easier.
I think Mike’s hit it on the head. National’s asset sales policy is dead, it just doesn’t know it yet. Key’s punted for touch, pushed the hard calls out by six months (at a cost of another $10 million to us, thank you very much). But what’s really going to have changed when we get to March 2013? Key’s ruled out giving iwi what they want. So, any sales will be blocked by court injunctions.
Key has gone for a gamble again; but not the gamble some of the pundits were expecting. On the asset sales, he’s chosen flight over fight. But the real problem the asset sales face now isn’t Maori action, it’s the state of the economy.
The Keep Our Assets Coalition has now collected 250,000 signatures for the petition for a referendum on asset sales in just four months. You need to help with the big final push – the Spring Collection – to get the last 60,000 signatures and the 10% spares within the coming month.
Last week, TVNZ covered a MYOB poll that showed 50% of small business owners disagreed with asset sales and 21% supported it. That’s […]
National, Banks, and Dunne voted to keep the door open for more asset sales yesterday. Clayton Cosgrove’s Bill would have required a super-majority in Parliament or a referendum to move more companies out of the SOE Act – a necessary step in the privatisation process. Dunne in particular has promised not to support further asset sales, yet given a chance to stop them, he refused.
If the Government still hasn’t decided whether to sell the assets, why is its stockbroker advertising them?
Could it be that the Nats’ consideration of the Tribunal’s findings is just a sham?
The Maori Party is meeting with National to discuss the Waitangi Tribunal’s report on water and asset sales today. Notice how no-one’s saying ‘will they walk if the Nats ignore the Tribunal and proceed to breach the Treaty?’ That’s what happens when you cry wolf then sell out time after time. Everyone knows Turia wants her comfy limo seat more than anything else.
National’s asset sales programme is in crisis. Key has three options on asset sales – plow ahead, cut a deal with iwi, or call it quits. The smart thing to do, for the good of the country and for National’s own good, remains to drop the policy altogether. But they won’t. Instead, they’ll play the race card. But that old joker isn’t the trump it once was.
The Nats’ asset sales are beset at all sides. The companies aren’t ready for sale. Their future revenue is too uncertain to attract investors. The Government would end up with more debt not less. New, hidden, fiscal costs keep on coming to light. Few New Zealanders want to buy the shares. Over 200,000 have signed a petition against the sales.
The Nats are admitting the wheels are coming of their asset sales programme. Solid Energy’s revenue is in free-fall. So is AirNZ’s. Nobody can predict the impact the water rights issue will have on the power companies. And Meridian is playing chicken with its main customer, the country’s largest energy consumer.
Mighty River, when its water use rights are in doubt? Meridian, when its deal with its largest customer is in question? Solid Energy, when it is reviewing all its operations due to the high dollar? Genesis, when Meridian could flood the market with cheap power if its deal with Rio Tinto falls through, and a future government is likely to sharply increase the cost of its emissions from Huntly?
So, let me get this straight. Debt is bad. So bad, in fact, that the Government is willing to sell assets that produce higher returns than its cost of borrowing to free up money and avoid taking on more debt. But this same Government is now planning to borrow to fill a $5 billion hole in its transport budget caused by its unneeded motorway projects.
A TVNZ poll matches the results of the TV3 poll on whether people would buy shares in the asset sales. Only 50% say they definitely have $1,000 to spare to buy what they already own. Only 13% say they would “very likely” use that money to buy those shares. Hardly the ‘vast majority’. Most of us would end up dispossessed.
“Unusual and inappropriate” – that’s how the Waitangi Tribunal has described National’s ‘report by August 24th or we’ll ignore you’ ultimatum. Imagine if you or I were party to a court case and tried that! Now, the Tribunal is going to deliver a truncated report before that deadline and the full one in September. This is going to the courts. Injunctions will delay the sale.
A stockmarket float can’t happen at just any time. It needs to be close to the annual report or late enough in the new year to allow new numbers to be made after the Christmas break. So 2 windows a year. 5 to the election. Treasury says the stockmarket can only handle 1 asset sale a window, preferably 1 a year. The Nats know they will lose the next election. So they can’t afford to lose this sales window if they’re to do all the sales by the election.
If John Key chooses to ignore the Waitangi Tribunal and continue to foment racial division in a desperate bid to split opposition to asset sales, he may be in for a nasty surprise. The Waitangi Tribunal has noted it has the power to make binding recommendations over memoralised land. Key doesn’t think Mighty River has any memoralised land. Yes, it does.
I missed this last week: Key is now conceding that he doesn’t have legal authority to give away shares for free in a looters’ bonus. In June, Key and English arrogantly dismissed questions from Russel Norman on the legal authority to give away hundreds of millions of dollars worth of shares to the looters. Last week, Key sheepishly admitted that Norman is right.
Does Key respect the Waitangi Tribunal’s call for a temporary halt to asset sales and its likely call for a further delay when it presents its full findings in September? If he does, he looks weak, gives the Keep Our Assets petition more time. If he doesn’t, he picks a fight with Maori, resulting in court injunctions, again delaying the sales, hurting the sale price, making him look weak.
Finally the truth is out. Gaynor and Armstrong agree – National Party politics are the real reason for asset sales. They make no sense economically. They are not about debt reduction. Key’s asset sales are a political bribe – nothing more and nothing less.
The Greens have collected 100,000 signatures for the Keep Our Assets Coalition petition to force a referendum on asset sales – in fact, my Asset Keeper email says they were up another thousand at the end of Friday. The Coalition’s total is rapidly approaching 200,000. That’s after just 3 months. Another 150,000 or so to go – with margin for invalid signatures. Play your part.
3 opposition private members’ Bills passed – extended paid parental leave, Mondayisation, and lobbying disclosure – on Wednesday (moving a ban on land sales to foreigners up the list). Then, all 5 drawn from the ballot on Thursday opposition bills too: marriage equality, $15hr minimum wage, super-majority/referendum protection for asset sales, charging government agencies that pay access to info, and controlling water pollution.
John Key’s grasp of his own asset sales policy is being revealed to be shakier by the day. He doesn’t know how it would hurt the government books. He flips his position on water rights each day. He doesn’t know how much a looters’ bonus of free shares would cost. And, yesterday, he didn’t even realise that $56m is budgeted to cover sharebrokers’ fees for the looters.
There’s been some talk around the ‘sphere about a speech where David Parker made comments that some (*cough* Chris ‘the Right’s favourite Leftie’ Trotter *cough*) thought meant he supported asset sales. That obviously caused confusion because Parker and Labour are clearly against asset sales. Now, someone’s taken the innovative step of asking Parker what he meant (spoiler: it’s not what Trotter thought).
In the cartoon Calvin and Hobbes, they play a game called Calvinball. “The only consistent rule states that Calvinball may never be played with the same rules twice”. It’s a bit like that trying to call this government to account. One day they have legal authority to give away shares, next they don’t. One day they don’t know the cost, then they do, then they don’t again. Like Calvin, I’m getting the impression that Key is just making it up as he goes along.
John Key doesn’t want to go ahead with plain packaging of cigarettes. The cancer sellers would sue. It could cost a few million to beat them in the international courts (me, I would just create a law of corporate homicide and nationalise their NZ assets). Key baulks at the cost, the risk. But something in the hundreds of millions for free shares to looters? Key reckons that’s a great investment.
On Breakfast just now, Petra Bagust asked John Key what’s so great for the economy about listing our assets on the stockmarket. A good question. In his answer, Key tried to make out that floating these companies on the stockmarket would give them more cash to grow. But not a cent of the revenue will go to the companies and Key knows it.
In front of a room full of rich people, John Key confirmed today that, when they buy our shares in our company they will also get a free hand out from the Government if they hold on to their plunder for 3 years. There’s no legislative authority for National to contract to make such a gift, of course. But, when you’re plundering the State, what do rules matter?
