Key sets scene for fire sale

The refusal by the National Government to disclose advice it has on the sale of Solid Energy and other energy State Owned Enterprises is a clear sign West Coast interests will not be well served, Labour MP based in West Coast/Tasman, Damien O’Connor says.

“The National Party has misled New Zealanders on the whole process and claims of opportunities for New Zealand ‘mums and dads’ are a farce.

“Television New Zealand has been refused information given to National ministers about the sales and any ability to retain ownership in New Zealand hands.

“We all know such assurances from John Key are just hollow promises. Finally the worm has exposed the real John Key and the hidden asset sales agenda to benefit share traders, not New Zealanders who already own these energy assets,” Damien O’Connor said.

“I understand considerable work has been undertaken within Solid Energy to prepare it for sale. That is arrogance from a party that assumes it has a mandate and an election victory.

“It seems there has been no advice on a maximum shareholding by any one company so a major foreign investor could effectively squeeze Solid Energy for better returns.

“You can pretty much bet hundreds of West Coast jobs will be lost as new owners demand higher returns from the mining of our valuable West Coast premium coals.

“Most constituents, including National Party supporters, I talk to are alarmed by the asset sale plans and will not be voting for National because of it.

“I am determined to fight this ridiculous plan to not only protect the interests of West Coast miners, but to protect the interests of every New Zealander,” Damien O’Connor said.