Asset sale con

"“The National Government promised New Zealanders would retain at least 51per cent of their SOEs. It is now clear that promise is meaningless,” David Cunliffe said."

This Stuff article exposes the Governments true intent with the sale of our assets - the flogging-off of non-consolidated subsidiaries:

“Selling non-consolidated subsidiaries off the balance sheet would, of course, get around the 51per cent ownership limit by allowing real assets of an SOE to be floated independently of the parent company,” David Cunliffe said. “This is important new information for the asset sales debate.”

Labour Leader David Shearer also recently demonstrated the Government’s ability to sell equity bonds and other instruments which could reduce the real value of the public ownership below the 51per cent threshold.

“New Zealanders overwhelmingly oppose the National Government’s plans to flog off the assets they’ve built up over generations,” Mr Cunliffe says. “Now Kiwis can see how National has tricked even its supporters, who would never have imagined that ‘51per cent’ could mean losing control of everything but an asset-stripped shell.

“There is a cynical but carefully worked out Government agenda to flog off as many public assets as possible. At a time when the Crown may be selling the crafar farms to foreign interests these issues are even more important."