Govt consultation on asset sales 'enough' to satisfy Maori concerns – Crown

The Supreme Court building in Wellington

Queens’s Counsel David Goddard is adamant the government’s consultation on its planned partial asset sales is enough to placate Maori concerns.

Mr Goddard has promised to provide “plenty” of facts and figures to the Supreme Court today as the Maori Council’s bid to halt the plan continues.

Yesterday afternoon, Mr Goddard, who will begin his argument today, had enough time to clarify several points raised by Maori Council lawyer Colin Carruthers QC.

“The Crown has consulted extensively on this issue, including three formal rounds and a number of informal rounds.” 

He said that after careful consideration the government decision to the transfer of up to 49% of assets into the hands of private shareholders will not impair its ability to take necessary action to protect Maori interests.

“The government has concluded the toolbox will not be materially impaired.”

Justice Robert Chambers asked Mr Goddard what would become of payments of royalties once the state owned enterprises became mixed ownership models (MOM).

Mr Goddard said deputy prime minister Bill English and attorney-general Chris Finlayson had confirmed nothing would change.

“Both Mr English and the attorney-general have confirmed the Crown’s ability and willingness to take these steps will not be affected by the sale of shares.”

Yesterday, Mr Carruthers argued the transfer of shares will result in the impairment of the Crown's abilities. It would be unable to deal with river consent issues easily and would instead need to consult with the private shareholders.

“At present, the Crown can exert considerable control over the state-owned enterprise, but this control will significantly diminish once each SOE is turned into a MOM company.

"Giving Maori direct and meaningful involvement in the power-generating SOEs after privatisation will not be possible.”

After questioning Mr Carruthers, Chief Justice Dame Sian Elias floated the prospect of the Supreme Court limiting share sales to no more than 25% of the companies.

"A protective mechanism could be that the crown will only divest 25% until there is some resolution.”

bcunningham@nbr.co.nz

This article is tagged with the following keywords. Find out more about My Tags

Post Comment

11 Comments & Questions

Commenter icon key: Subscriber Verified

The Maori have lost this argument before they started!
However, it clearly illustrates their mindset - money, money, money, how can we screw more money out of the "stupid" pakeha !
Time for them to assume and accept the concept of a fully integrated society.

Reply
Share

Come on Kev, what brought your ancestors here? Money, Money, Money.

Reply
Share

I would have thought that today's headline in any media publication and TV news would have been 'The resignation of Sian as Chief Justice'.
That is what a person of integrity would do, having made the statement that she made yesterday during the hearing.

Reply
Share

"...'enough' to satisfy Maori concerns..."
What a hoot! A bit like saying: the pristine waters of an effluent pond.

Reply
Share

I don't care how it happens. The government cannot sell our assets, so that is great news.

Reply
Share

Better the govt gets the dividends locally rather than overseas interests getting 49% of them. Make no mistake, the shares will eventually end up in overseas hands.

Reply
Share

Didn't Chief Justice Dame Sian Elias work for Maori interests before becoming Chief Justice? Is that not a conflict of interest?

Reply
Share

'Maori interests'? I thought we were all New Zealanders. Oh right, I get it, Pakeha interests = New Zealand interests.

Reply
Share

"Giving Maori direct and meaningful involvement in the power-generating SOEs after privatisation will not be possible.”

I don't understand the assumption behind this remark. Why should giving direct and meaningful involvement even be contemplated?

Reply
Share

Maybe it's because we were here first.

Reply
Share

I thought the govt responsibility is to manage the survival of its people and not to create unemployment. I rather see them try and maintain the jobs in hand before than anything else. Why can't they see their policy is dividing the society, poor getting poorer rich getting richer and more people on the dole.

Reply
Share

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7850 0.0000 0.00%
AUD 0.8924 0.0000 0.00%
EUR 0.6196 0.0000 0.00%
GBP 0.4880 0.0000 0.00%
HKD 6.0917 0.0000 0.00%
JPY 84.8970 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1231.3 2.700 2014-10-24T00:
Oil Brent 86.1 -0.700 2014-10-24T00:
Oil Nymex 81.0 -1.020 2014-10-24T00:
Silver Index 17.1 0.020 2014-10-24T00:

Indices

Symbol Open High Last %
NZX 50 5292.8 5344.4 5292.8 0.77%
NASDAQ 4459.5 4486.3 4452.8 0.69%
DAX 9008.6 9044.9 9047.3 -0.66%
DJI 16677.0 16811.7 16677.9 0.76%
FTSE 6419.1 6419.1 6419.1 -0.47%
HKSE 23311.9 23352.6 23333.2 -0.13%
NI225 15354.4 15377.0 15139.0 1.01%