INDEPENDENT NEWS

Sharemarket Over-Reacting To Telecom Changes

Published: Fri 6 Oct 2000 11:56 AM
Sharemarket Over-Reacting To Telecom Changes - Cullen Warns
Finance Minister Michael Cullen said today that the sharemarket seemed to be over-reacting to possible regulatory changes in the telecommunications sector.
He was referring to the recent loss of value on Telecom shares.
Dr Cullen said Communications Minister Paul Swain had made it very clear that the recommendations of the Telecommunications Inquiry were just that and by no means represented the final views the Government would adopt.
"In particular Mr Swain has always been sceptical about the value of industry specific regulation, rather preferring to look at using the Commerce Commission as a vehicle for any regulatory changes which may be approved.
"There seems to be some perception the Government is likely to put in place some form of heavy handed regime in this area.
"A conclusion the markets ought to be drawing from the electricity decisions announced this week is that the present Government does not adopt unnecessarily heavy regulatory approaches and it is very unlikely we would do so with respect to telecommunications," Dr Cullen said.

Next in New Zealand politics

Gordon Campbell on the latest struggle for gun reform
By: Gordon Campbell
Comprehensive overhaul of the RMA
By: New Zealand Government
Ombudsman releases report on official information practice
By: Office of the Ombudsman
Law Commission recommends new law for dividing property
By: Law Commission
Shots fired to warn fleeing driver in Huntly not justified
By: Independent Police Conduct Authority
Gordon Campbell on Kiwis being the Aussies’ Pacific go-fers
By: Gordon Campbell
Trades Hall bombing case re-opened, evidence released
By: RNZ
Govt targets fewer deaths on the road
By: New Zealand Government
Teachers unions to take legal action against Novopay
By: RNZ
PM's Post-Cab 22/7/19: Check Out Those Guns
By: The Scoop Team
Firearms licensing changes: Fees currently 'low'
By: RNZ
New emphasis on public safety for firearms
By: New Zealand Government
Strong first week of firearms buy-back events
By: New Zealand Government
Firearms Tranche Two not focusing on the right people
By: New Zealand National Party
Gun register will not make us safer
By: ACT New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media