The Truth editorial:
Labour and the Greens need to come clean on asset sales. We know that both parties oppose asset sales. We get that. They have spent a considerable amount of taxpayer cash recruiting staff and manipulating for political purposes the Citizens Initiated Referendum process to try to re-litigate the 2011 election. …
Investors and voters need to know if Labour intends opposing the sales in actions and not just words.
Will Labour commit to forced buy-back of the shares, essentially a re-nationalisation of the asset. Before readers poo-pooh that suggestion remember Air New Zealand.
Helen Clark even flirted with securities laws by advising on national television for Mum and Dad investors to keep their shares in Air New Zealand…that everything would be alright. As we know everything wasn’t alright and some weeks later the government forcibly acquired as many shares as it could and left about 25% of shareholder mired without any sort of say in the company.
Would Labour do this again with the listed power companies…and if so how much would they pay for the shares…The listing price? The market price (unlikely)?
Labour and their hangers-on who oppose asset sales need to clarify before even a single share is sold what their intentions are.
I agree. Labour, as the potential next Government, has a duty to announce its policy before the offer document is issued. Will they buy the shares back or not, and at what price?Tags: Asset Sales, Labour, Truth