Is Cullen Funding New Zealand Sell Off?

Friday 31 Oct 2003 Stephen Franks Press Releases -- Commerce

ACT Associate Commerce spokesman, Stephen Franks today called for assurance from Dr Cullen that the deal he has done with Toll is not indirectly funding Toll's surprise raid on New Zealand transport company, Owens Group. Toll's ambush on Owens blocks another New Zealand company, Mainfreight, one of Toll's major clients, from completing a takeover of Owens.

"Cullen's deal with Toll is still murky. We have never had enough detail to know what Toll has been promised. Exactly what is the value of the disguised subsidy in the deal for track maintenance at taxpayers' expense?"

"Labour corporate socialism has traditionally created powerful vested interests. Labour launched the Fletcher dynasty. The difference this time is Dr Cullen is pandering to Australian capitalists.

"Dr Cullen refused to give any assurance in answer to my parliamentary questions, that the deal would not help Toll destroy Cook Strait freight competition, for example," said Mr Franks.

"New Zealanders need to know how far Cullen is embroiled in this deal. "There is much to rouse suspicion. Dr Cullen's inexplicably bitter attack on the Commerce Commission for defending New Zealand air passengers against the Qantas takeover of Air New Zealand, and his unwillingness to support the Reserve Bank in keeping ANZ out of the last New Zealand owned major bank, are both strangely pro-Australian big business.

"Is Cullen delivering on promises to sell off New Zealand interests to Australia to make up the relationship ground lost by Helen Clark when she reneged on defence arrangements with Australia? Or is he apologising for the problems to Australia our soggy immigration policy?" Mr Franks asked.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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