11 Feb 2012

Harawira scoffs at assurance over asset sales

8:03 am on 11 February 2012

Mana Party leader Hone Harawira says Maori should put no faith in assurances by the Government that iwi and small investors will do well out of shares in state-owned energy companies.

Finance Minister Bill English told a consultation hui in Whangarei on Friday that Maori corporates and funds including KiwiSaver are keen to buy into the four power companies as a safe investment.


Mr English said iwi who do not have the cash to invest because they have not yet settled Treaty claims will be able to do so eventually on the open market, or they can ask the Government to buy shares for them.

But Mr Harawira said overseas investors will call the shots when it comes to the share float - not the so-called mum and dad investors - and the Government wants to sell the shares for the most money.

"What they really want to do is flog it off for the best buck - and the best buck is foreign investors."