National remain coy over likely foreign ownership of SOEs

National have managed to dodge the critical issue of foreign ownership of our state-owned energy assets on the eve of the election, Green Party Co-leader Dr Russel Norman said today.

Bill English avoided answering on Morning Report this morning how National planned to ensure newly privatised state-owned assets didn’t end up in foreign ownership.

“Bill English’s decision to withhold Treasury documents giving advice on the foreign ownership issue leaves the public in the dark on this key issue on the eve of the election,” said Dr Norman.

“Suppression of Treasury advice is clearly not in the public interest and I’m deeply disappointed the Ombudsman has decided commercial sensitivity trumps the public’s right to know.

“It’s obvious those documents are very damaging to National’s business case for selling our state-owned energy companies.

“The economic rationale for partial privatisation is poor. Treasury’s advice is likely to follow conventional economic wisdom advising for full privatisation or no sale at all. Advice on full privatisation would necessarily include sale to foreign owners to maximise the price the Government received,” Dr Norman said.

“It’s also likely Treasury advised that any attempts by National to restrict private ownership to New Zealanders would breach the non-discrimination clauses in the free trade deals we’ve signed.

“How can the public have confidence in John Key’s plans for our state-owned energy companies when the crucial details surrounding how they would do it have been deliberately suppressed?

The Green Party will continue to oppose National’s plans for partially selling state-owned assets – assets that could otherwise play a strategic role in transforming our economic prosperity and create thousands of new green jobs.

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