The Government is scotching claims that it has struck a deal to sell parts of Solid Energy to Indian buyers, but says parts of the troubled mining company will be offloaded.
Meanwhile, Labour’s West Coast-Tasman MP Damien O’Connor said he would support foreign buyers investing in inactive West Coast mines, even though he likened it to asset sales.
It’s good to have a Labour Mp say he supports an asset sale, but here’s the problem. Labour have in the past also sold assets – but only failing ones. They support selling a company after it has gone bust or near bust and cost the taxpayers millions. But they don’t support selling a company when it is profitable and taxpayers will get a good price for it. Instead they come up with policies to sabotage the share prices.