13 Aug 2013

Govt accused of misleading voters over asset sales

1:36 pm on 13 August 2013

Labour has accused the Government of misleading voters over its plans for the money it raises from partial asset sales.

State-owned Enterprises spokesperson Clayton Cosgrove said a Treasury document reveals $40 million from the Future Investment Fund will pay for free bonus shares for those who invested in Mighty River Power.

Mr Cosgrove said no one was told the fund, which is meant to pay for schools and hospitals, would be used to pay for the bonus shares.

With shares in Meridian Energy about to be offered for sale, he said the Government must assure New Zealanders this will not happen again.