Murray McCully National MP for Albany
11 November 2001
Audit Office & Speaker approached over Post
National's Murray McCully says he will be calling on the Auditor General and the Speaker to investigate New Zealand Post
after he obtained confidential board minutes which raise serious doubts about NZ Post's decision to proceed with the
Kiwibank proposal.
"These papers raise serious questions over how the decision was made to go ahead with the bank. They also cast serious
doubt on the truthfulness of assurances given by Post to Parliament's Finance and Expenditure Committee last week.
Represented by NZ Post board chairman Dr Armstrong and its chief executive, Elmar Toime, New Zealand Post told the
committee on Wednesday in response to questions from Mr McCully that directors were fully supportive of the Kiwibank
proposal.
"The minutes could hardly paint a more different picture," Mr McCully said today.
"A charitable interpretation of the minutes suggest only three directors supported the People's Bank, and even that was
only achieved after fairly vigorous musical chairs in the board room by retiring long standing directors and introducing
new ones.
"The clear contradiction between the minutes and the assurance to the select committee raises a clear issue of breach of
privilege. The Speaker is being approached to look into this matter.
"Clearly there are important governance issues at stake, with directors openly suggesting that the support of the board
does not properly exist for the banking proposal," Mr McCully said.
Ends