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Archive for 2 July 2012

Conflicts of Interest?

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It appears that having had a “taste” of selling our state assets, Dear Leader is continuing the process. Will he personally  benefit from the partial privatisation of SOEs,  by buying shares?

Because it seems that members of parliament may already be lining up to buy state assets that we, the people, currently own.

Minister for Courts, Associate Minister of Justice, and Associate Minister for Social Development, Chester Borrows has admitted his intention to  buy shares, according to comments he made on the last episode of ‘Backbenches’, on 27 June,

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[click on image above to carry through to TVNZ video – See comments @ 4.45 ]

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The exchange between Host Wallace Chapman and Chester Burrows;

CHAPMAN:  “Will you be buying shares in Mighty River Power?”

BORROWS:  “Yes, probably.”

CHAPMAN:  “Ok.”

BORROWS:  “I’m a mum and dad investor, well I’m half of a mum and investor partnership.”

CHAPMAN:  “So you will be.”

BORROWS:  “Yep.”

It appears that all pretences of avoiding conflicts of interest between National MPs and investments, have been done away with. With the wealth that many National MPs possess, it is not hard to see that they stand to benefit from state asset sales.

National Ministers will no doubt have a deep understanding of which ‘Mixed Ownership Model’ corporations are good investments. They will also know which  ‘Mixed Ownership Model’ corporations will benefit from future government policy-decisions and infra-structure development – all of which will boost the value of any shares they hold.

Is this a vested interest in partial-privatisation?

Is this a conflict of interest?

Is this verging on self-serving corruption?

In this blogger’s opinion, it is hard not to arrive at these conclusions.

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