Hon Dr Michael Cullen
Minister of Finance
11 April 2008 Media Statement
Key puts up ‘for sale’ sign on NZ strategic assets
Finance Minister Michael Cullen says he is disappointed but not surprised to hear of the National Party’s weak position
on strategic national assets.
“Mr Key’s comments today mean that the National Party has not changed its spots from when it was last in government in
the 1990s and decided to hock-off the Crown’s shareholding in Auckland International Airport for a bargain,” Dr Cullen
said.
“National in government scaled-back New Zealand mum and dad bids for shares in favour of large overseas investors so its
crocodile tears in 2008 for small shareholders is insincere at best.
The National Party leader, cheered on by the ACT Party, today attacked the decision by two Cabinet Ministers to reject
the efforts of the Canadian Pension Plan Investment Board to purchase a major stake in Auckland International Airport,
our largest city’s monopoly commercial aviation gateway to the world.
At the same time, Mr Key has attempted to appear strong on asset protection, outlining a confused policy to hold 51 per
cent of shares in strategic assets in New Zealand hands.
“Mr Key’s weeks of slipping and sliding on Auckland Airport has further undermined his credibility. He should seek a
briefing from his Trade Negotiations Spokesperson on the implictions of National’s so-called 51 per cent rule on
bilateral and multilateral agreements that New Zealand is committed to,” Dr Cullen said.
ENDS