26 Apr 2012

Submitters in Auckland opposed to partial asset sales

4:29 pm on 26 April 2012

Submissions heard at a select committee hearing on partial asset sales in Auckland indicate an overwhelming opposition to the policy.

Parliament's finance and expenditure select committee is considering the legislation allowing the Government to sell up to 49% 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.

MPs heard from about 20 submitters in Auckland on Thursday - the majority of whom are opposed to the sale of New Zealand's assets.

Several members of the public raised concerns about how the policy will affect electricity prices.

One submitter, Dorothy Bauld, told the committee the policy is effectively selling opportunities for future generations.

Another, Trevor Darvill, said his forefathers would roll in their graves if the Government goes through with the policy.

Thursday's public hearing was considerably more subdued than a meeting held earlier this week in Wellington at which some comments visibly affronted some MPs.