John Key all over the show on asset sales

Just two months out from the sale of Mighty River Power, John Key is still unable to explain to New Zealanders how much it will cost for his so-called loyalty scheme, potential settlements with iwi, public relations, advertising and brokerage fees, says Labour Leader David Shearer.

“It is incredible that John Key could front up to his National Party conference at the weekend and announce a loyalty scheme without knowing the cost. It is simply irresponsible.

“This asset sales process will see New Zealanders who can afford to buy shares benefiting from a loyalty scheme that is subsidised by every other Kiwi. That’s not fair.

“John Key is all over the show on this issue. Firstly he said the loyalty scheme could cost less than half of the $1.3 billion contained in Treasury papers, then he agreed $360 million was a ‘possible number’, this morning he claimed it could be between $60-80 million and this afternoon in Parliament he said that it might come at ‘no cost’.

“What is the actual figure? And why won’t the Prime Minister just be honest with Kiwis.

“New Zealanders don’t want their power companies and national airline to be sold off. But at the very least, they deserve to know how much this process is going to cost them.

“John Key should just give us a figure and stick to it,” said David Shearer.