Election 2014

14 Nov 2011

Asset sales company put on notice by Labour

8:52 pm on 14 November 2011

Labour Party leader Phil Goff has written to the company appointed by the Treasury to advise it on asset sales, warning it an incoming Labour government would cancel its contract.


Australian investment bank Lazard is assisting the New Zealand Government as financial designers for National's planned partial assets sales programme.

If re-elected on 26 November, National will proceed with the partial privatisation of state-owned energy companies Genesis Energy, Meridian Energy, Mighty River Power and Solid Energy and reduce the Crown's shareholding in Air New Zealand.

Mr Goff told a meeting of Grey Power members on the Kapiti Coast on Monday afternoon it is a disgrace that $100 million could be spent selling assets that New Zealanders do not want sold.

"I want to place Lazard Limited on notice - that an incoming Labour government will terminate Lazard's appointment forthwith."

Mr Goff says it makes no sense to sell New Zealand's best-performing assets to try to reduce debt.