AMI bailout documents released by govt
A trove of documents released by Treasury this afternoon relating to the government bailout of AMI after the Canterbury earthquakes shows a balanced approach by government, Finance Minister Bill English claims.
He said the bailout meant the Crown was directly involved in running the company. "Since the package was announced, the Government has been engaging constructively with AMI," he said.
The total cost of he bailout is still unknown. Mr English said next week's budget could take a "cautious and conservative" approach to the costs of the package.
Mr English said the level government control, as wells as its risk exposure, meant AMI's assets and liabilities would be included in the 2010/11 full year consolidated Crown accounts released in October.