August 28, 2012
Peters: Government’s asset sales programme is in big trouble
New Zealand First leader Winston Peters says the Government's asset sales programme is in big trouble.
Prime Minister John Key today indicated the Government could have a response to the Waitangi Tribunal's recommendations as early as next Monday.
The New Zealand Maori Council is gearing up for a legal challenge if the tribunal's call for a hold on the sale of shares in state power companies is rejected.
Mr Peters says Mr Key was blinded by his ideological commitment to privatisation, and failed to spot the strength of the opposition.
"I think they are in trouble and deservedly so in that they should never have put this up for sale in the first place. The government loses doing this. They have maybe $5 or $6 billion in sales but the loss of profits over time means it is a bad economic decision," he says.
Mr Peters says ministers who sell assets have a duty to get the best price, and there is no way that can now happen given the uncertainty over the Maori interest.