20 May 2014

Key declares past interest in racehorse

8:41 pm on 20 May 2014

Prime Minister John Key has amended his past pecuniary interests declarations to include a tenth share he used to own in a racehorse.

Last week, New Zealand First leader Winston Peters had to explain why he hadn't declared a lease-share arrangement he had for a racehorse when challenged by independent MP Brendan Horan.

Mr Key said on Tuesday he bought into a syndicate in 2007 and sold his share the following year.

He said he saw no reason at the time to declare the shareholding - but rather than argue about it, he has since amended the register.

Mr Key said it was a far from successful investment. "It should be more correctly referred to as a donkey than a horse. I think it managed to win one race where everyone else was running in the other direction. And it now lives in Noumea - apparently hopefully a happy life."