Home > Social Issues, The Body Politic > Law passed in secret to sell State Assets 100% , Meegan Manuka MR NEWS Counter Spin 2012

Law passed in secret to sell State Assets 100% , Meegan Manuka MR NEWS Counter Spin 2012

Something worth a look,



Meegan Manuka’s assessments of certain aspects of National’s machinations over the SOE Act 1986 is is scarily accurate. For example, at 1:50 into the video-report, she informs us,


“…that priority will be given  to New Zealand investors. Now I know that’s not true because if you research the Trans-Pacific  Partnership Agreement there’s a clause in there that says that we cannot give priority to New Zealanders because that’s discrimination against the offshore investors…”


Ms Manuka’s assertion is backed up from a Government document, the OUTLINES OF THE TRANS-PACIFIC PARTNERSHIP AGREEMENT,



The investment text will provide substantive legal
protections for investors and investments of each TPP country in
the other TPP countries, including ongoing negotiations on
provisions to ensure non-discrimination, a minimum standard
of treatment, rules on expropriation, and prohibitions on
specified performance requirements that distort trade and


And unsurpringly, Ms Manuka’s research was backed up my msm,


Full Story


But Prime Minister John Key said legislation was not needed to guarantee priority shareholdings.

“You need to practically have it – it’s essentially the application of the policy and New Zealanders will judge us on how well we execute that policy, but it’s not necessary to have it in legislation.”


Key’s statement that “it’s not necessary to have it in legislation” is mind-boggling. How else will Government  “guarantee priority shareholdings” if legislation does not exist to enforce it?

The only answer to Key’s bizarre statement is that National has no intention of enforcing “guaranteed priority shareholdings” because it knows that,

(a) As Ms Manuka stated, any such law would conflict with the TPPA, and

(b) the government cannot guarantee that New Zealand investors are financially able to purchase billions of dollars worth of shares

The issue of SOE privatisation is similar to that of farm-sales to overseas inestors, where John Key has stated that Government cannot ‘discriminate” between local and overseas offers to buy assets,

Which then influenced National’s  decision on the Crafar farm-sale, to overseas investors. As John Key said,

“He [Mr Peters] is in a state of denial. New Zealand has strict legislation where it comes to the sale of farmland. If government had decided to overrule the decision of the Overseas Investment Office we would have to give reasons – and that reason can’t be ‘because they’re Chinese.’” – Source


Ministers were satisfied that Milk New Zealand met all of the relevant criteria under the Overseas Investment Act 2005. Ministers can only have regard to the criteria and factors outlined in the Overseas Investment Act 2005. Every application is decided on its individual merits and the outcome would be the same even if New Zealand did not have a Free Trade Agreement with China,” they said.” – Source

As with previous pledges and promises from National, it seems fairly evident that John Key has no intention of following through on his committment to “guarantee priority shareholdings“.

Be prepared for another back-down, with the usual ‘spin’ of excuses, buck-passing, and vacant smiling. As Bruce Bissett wrote in Hawkes Bay Today,

Double standards? Yes, of course. This is National, after all.

The next election can’t come soon enough.

And thank the gods for Gen Y. They’re here to fix up their parents’ mess.


* * *



Next step in Trans-Pacific Partnership agreement

Ministry of Foreign Affairs and Trade: Trans-Pacific Partnership (TPP) Negotiations

Ministry of Foreign Affairs and Trade: Broad Outlines


Leaders of TPP member states and prospective member states on the sidelines of the APEC summit in Yokohama, Japan, 11 November 2010.


Map of Trans-Pacific Partnership Agreement signatory nations



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