Home > Various > Letter to the Editor: what is a politician’s promise worth?

Letter to the Editor: what is a politician’s promise worth?

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FROM: 	"f.macskasy" 
SUBJECT: Letters to the Editor
DATE: 	 Sun, 16 Mar 2014 21:10:15 +1300
TO: 	"Sunday Star Times" letters@star-times.co.nz 

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The Editor
Sunday Star Times

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Winston Peters has pledged that his Party's bottom line is
the re-purchase of all shares in Meridian, Genesis, and
Mighty River Power at "a price no more than that initially
paid for them".

This is stated on NZ First's website, and Peter's reiterated
his pledge on TV3's 'The Nation' on 15/16 March.

I sincerely hope that Mr Peters' promise to buy back the
powerco SOEs fares better than his pledge in 1996, to buy
back Forestry Corp's timber cutting rights. Forestry Corp
was privatised by the Bolger-led National government for
around $1.6 billion to a consortium made up by Fletcher
Challenge Forests, Brierley Investments Ltd,  and Chinese
state-owned company,  Citifor Inc (now known as CITIC
Group).

Peters promised during the 1996 general election;

“I want to tell the Chinese buyers and I want to tell
Brierleys that they had better not make any long-range plans
because the day after the election is over we will be
sending them an emissary to them them exactly what is going
to happen, that is, that we are going to keep out promise,
they can give back the asset and we will give the money
back.”

The buy-back never happened, despite Mr Peters becoming
Treasurer and Deputy PM on 11 December 1996. His pledge
quietly disappeared.

Let's hope the same fate does not befall his pledge to buy
back the powerco shares.

-Frank Macskasy
(address  & phone number supplied)

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Related blogposts

Fool me Once, Shame on you

Winston Peters recycles pledge to “buy back state assets” – where have we heard that before?

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