Shearer David: Questions for Oral Answer — Questions to Ministers 
Text is incorporated into the Bound Volume 
Shearer David: Questions for Oral Answer — Questions to Ministers 
[Sitting date: 22 August 2012. Volume:683;Page:4621. Text is incorporated into the Bound Volume.] 
3. 
DAVID SHEARER (Leader of the Opposition) 
 to the  
Prime Minister 
: Does he stand by all his statements? 
Rt Hon JOHN KEY (Prime Minister) 
: 
 Yes. For example I stand by the statement I made in the House on 24 May 2012 that “Seeing as it is a zero Budget and there is not a lot of money to spread around let me give some free advice to David Shearer: when David Cunliffe has a shave be worried because he is coming after you.” That was very good advice. [ 
Interruption 
] 
Mr SPEAKER 
: Order! 
David Shearer 
: Given his statement that “Mixed ownership will free up $5 billion to $7 billion which we can use to buy new assets … without having to borrow more from offshore lenders.” will he be revising the $5 billion to $7 billion figure in light of the changed circumstances of Solid Energy Might River Power Meridian Energy or Air New Zealand? 
Rt Hon JOHN KEY 
: No. 
David Shearer 
: Given that Bill English his finance Minister has said: “We would only take any of these companies to the market if they are in good shape for investment and Solid Energy right now certainly isn’t.” what impact will the delay and potential cancellation of the sale of Solid Energy have on his Government’s ability to deliver a balanced Budget? 
Rt Hon JOHN KEY 
: There may not be a delay. It has always been the Government’s view that this is a 3 to 5-year programme. It has always been the view that Solid Energy is likely to be the last cab off that rank because the energy companies are in better shape to go to the market. As the member might be aware Solid Energy is experiencing some issues at the moment because of the falling coal price but these things move around. 
David Shearer 
: Given the comment of John Palmer the Chairman of Air New Zealand that the disappointing share price for the company means that “there probably isn’t any particular urgency for the Crown to sell” what impact will that have on balancing the Budget? 
Rt Hon JOHN KEY 
: None. As I said it has always been a 3 to 5-year programme. The Government has always taken the view that it would look to maximise the return within reason. There has been nothing stopping the Government now that the mixed-ownership legislation has been passed from taking the portion of Air New Zealand that we could sell to the market but the Government has chosen not to do so solely because it believes that at some point it will get a better price for that. 
David Shearer 
: Will the negotiations between the Bluff aluminium smelter and Meridian Energy or the fact that Meridian Energy customer Norske Skog plans to halve production at its Kawerau mill have any impact on the value of Meridian Energy; if so how will that affect the balancing of the Budget? 
Rt Hon JOHN KEY 
: It is impossible for me to answer the question in relation to Meridian Energy and Rio Tinto because that is a commercial matter between the two companies. But they have longstanding contracts and in the past they have always seemed to be able to work those out. 
David Shearer 
: In light of the troubles around Solid Energy Mighty River Power Meridian Energy and Air New Zealand will he now bow to the overwhelming New Zealand public pressure to not sell our assets? 
Rt Hon JOHN KEY 
: No.