Norman Russel: Questions for Oral Answer — Questions to Ministers 
Text is incorporated into the Bound Volume 
Norman Russel: Questions for Oral Answer — Questions to Ministers 
[Sitting date: 07 February 2012. Volume:677;Page:84. Text is incorporated into the Bound Volume.] 
3. 
Dr RUSSEL NORMAN (Co-Leader—Green) 
 to the  
Minister for State Owned Enterprises 
: What steps if any has he taken to ensure that should the Government sell 49 percent of Mighty River Power Meridian Genesis and Solid Energy “New Zealand investors will be at the front of the queue for shareholding and that there will be widespread and substantial New Zealand share ownership”? 
Hon TONY RYALL (Minister for State Owned Enterprises) 
: 
 Ministers have made this requirement of widespread New Zealand investment a fundamental part of every step of the process to date. Both the scoping studies and Crown advisers have confirmed that there is sufficient domestic demand to meet the Government’s objectives. As part of any share float the Government has the ability to determine what type of investors are allocated shares and we will use this ability to ensure widespread and substantial New Zealand shareholding. These proposed share floats are important to ensure public debt remains under control and we certainly do not want to reach the level of debt as in some countries such as Britain where they are having to lay off 700000 public servants. 
Dr Russel Norman 
: How will he ensure that New Zealanders are at the front of the queue when New Zealand’s trade and investment agreements state that New Zealand investors cannot be given preference over foreign investors? 
Hon TONY RYALL 
: The Government is quite clear that those agreements do not override the Government’s ability in respect of the allocation policy to make those decisions. 
Dr Russel Norman 
: What advice has he received regarding the ability of the Government to give preference to New Zealand investors and advice that the agreements we have do not prevent him doing that? 
Hon TONY RYALL 
: We have received advice that those agreements do not prevent the Government from ensuring widespread and substantial New Zealand ownership of the mixed-ownership model companies. 
Hon Clayton Cosgrove 
: What is he going to put in place if anything to stop buyers of shares from onselling those shares to overseas interests? 
Hon TONY RYALL 
: I think what is quite clear is if you look at the mixed-ownership model as it applies at the Port of Tauranga which is a mixed-ownership model type approach we have actually got New Zealanders buying out foreigners. I think the fact that we have good quality investments will give New Zealanders that opportunity— 
Hon Clayton Cosgrove 
: I raise a point of order Mr Speaker. That was a specific question. It simply asked— 
Mr SPEAKER 
: I hear the member. To save time the honourable member may repeat his question. 
Hon Clayton Cosgrove 
: What actions if any is he going to put in place that would stop buyers of shares in these State-owned enterprises from onselling those shares to overseas interests? What specific actions will he take if any to stop that happening? 
Hon TONY RYALL 
: The Government is not proposing that it would take any action that would stop ordinary people having a right to decide to whomever they sell their shares. The problem is that the party opposite does not think working people are good enough to own shares and on this side of the House we think they are. 
Dr Russel Norman 
: Will the Minister release the advice he has received as stated in his earlier answer that the Government has no restrictions on giving preference to New Zealand buyers of shares in these companies? 
Hon TONY RYALL 
: The member is entitled to make an Official Information Act request for that information and I am sure we will consider it in due course. 
Dr Russel Norman 
: I raise a point of order Mr Speaker. I was not asking whether I could make an Official Information Act request; I was asking whether the Minister would release the advice. 
Mr SPEAKER 
: I think in fairness to the honourable member the Minister made it clear that without such a request he probably would not but with such a request it would be looked at. I think that is a reasonable answer to the question asked. 
Dr Russel Norman 
: I seek leave to table an Official Information Act request from Professor Jane Kelsey seeking that advice which was declined by the Minister in full. 
Mr SPEAKER 
: Leave is sought to table that document. Is there any objection? There is no objection. 
Document by leave laid on the Table of the House. 
Hone Harawira 
: Kia ora to the Minister. What is the Government’s position regarding the united call from Mana the New Zealand Maori Council iwi leaders Maori organisations and Maori people all around the country for the Treaty of Waitangi clause to be retained in legislation being drafted for the sale of our power companies or does the Government feel that it has a greater obligation to remove the clause to make it easier for foreign investors to buy those companies? 
Hon TONY RYALL 
: Kia ora to the member. The Government’s view is that we are about to enter quite a lengthy consultation process with iwi around the country in respect of how those rights and interests can best be protected in the legislation. 
Hone Harawira 
: Kia ora ano e te Minita. What reports has the Government received about the Maori Party being willing to stay with the Government even if it pushes ahead with its plans to remove the Treaty of Waitangi clause from legislation as long as the clause can be rewritten to sound very important even if it is completely meaningless? 
Hon TONY RYALL 
: As Minister for State Owned Enterprises I have not asked for any specific reports on that matter. 
Dr Russel Norman 
: In the advice that the Minister has received regarding the implications of New Zealand’s trade agreements for the ability of the Government to give preference to New Zealand investors did officials raise any concerns about the Government’s ability to do that? 
Hon TONY RYALL 
: As I recall no. 
Dr Russel Norman 
: How are New Zealanders to know what is actually the case here—the ability of the Government to give preference to New Zealand buyers of these shares or not—when the Government refuses to release the advice and keeps it secret? 
Hon TONY RYALL 
: I think New Zealanders can take assurance of the fact that the Government has made it very clear that it is our intention to maintain strong and widespread New Zealand interest in these companies and we would not have made that commitment unless we were able to do so. And I have got to say there are a lot of New Zealanders who are very interested in what is to come.