Referendum will rock asset sales plan

A successful citizens initiated referendum (CIR) to stop the sale of publicly owned power companies will impact the implementation of the mixed ownership model the Green Party said today.

"A successful referenda result will create major political problems for the Government," said Green Party Co-leader Dr Russel Norman.

"A government ignores the will of the public at their peril. All the polls on this topic show overwhelming public opposition to the Government's plans.

"Previous referendum results have influenced Government policy. This one can too.

"National and Labour introduced tougher sentencing in response to a referenda on that issue.

"The referendum will act as a warning to investors and could create uncertainty in the sale process.

"Investors will be reluctant to buy into companies that are subject to an on-going political debate and nationwide referendum.

"The election wasn't the beginning and end of this issue. John Key may have a mandate to govern but he has little support for selling our important energy assets.

"A CIR gives New Zealanders the chance to send the Government a message on this specific issue and can make a difference," said Dr Norman.