Labour’s desperate attempt at sabotage

Labour is making a last-ditch desperate attempt to sabotage the partial sale of Mighty River Power.

Shares in Mighty River Power go on sale today, but Labour is warning potential investors it plans to makes changes in the electricity sector if elected next year. . .

He won’t say what the changes will be, only that is was fair to warn potential investors.

“What we’re most concerned about is the rise in power prices and the fact that when these assets are sold the likelihood is that power prices are going to go up and that the companies are going to be increasingly held in foreign hands.” . .

The Labour leader is playing at being David Shearerpisos again.

There are no details on what they’d do because there is nothing they could do. If he’d asked his Finance Spokesman, David Parker, he’d know that.

Power prices went up far more steeply in the nine year’s when Labour was last in government than they have since National took over in 2008.

At a public meeting, when he was a Minister, Parker was asked about power prices and said he’d joined Labour because of Max Bradford’s electricity reforms.

In response to a question about why Labour had done nothing to reverse the changes or moderate them he said it was too late, there was nothing the government could do.

Shearer’s latest release is empty rhetoric. It displays the party’s contempt for, and ignorance of ,business and provides another reason to ensure they won’t be leading the government after next year’s election.

4 Responses to Labour’s desperate attempt at sabotage

  1. Neil says:

    Shearer’s fear element should be condemned. The opposition has opposed these sales with nothing more than a pack of lies.
    What still concerns me is the “lemming like behaviour” of investors diving in, without truly understanding the market. Sad stories could emerge if there is any market adjustment lower. The issue itself hasn’t had sufficient scrutiny from a financial position.


  2. Roger says:

    Two weeks ago Shearer was saying the MRP asset sale should be pulled because the effect of a close down at Tiwai would reduce power prices and make the values of the power assets drop. Now Shearer is predicting power rises – how, why? He is an absolute banker.


  3. fredinthegrass says:

    Who needs David Shearer? Martin Hawes did a pretty fair job this AM on National Radio. I happen to agree with him and will consider not exercising my preregistration – then I might have a punt too!!


  4. phil says:

    Consumers have been shafted by Hats and Labour over past 20 years with electricity cost. Total rip off. Good for pumping up the value ready for sale, though. The government has sold out to powerful corporate interests. Sky City, Sky TV , Fletcher, Downer, Serco Prison, No quality TV CHANNEL, SOLD OUT TO PRIVATE COMPANIES, The whole country has been corporatised., and it isn’t going to work, except if you are wealthy of course.


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