Moroney Sue: Questions for Oral Answer — Questions to Ministers 
Moroney Sue: Questions for Oral Answer — Questions to Ministers 
[Volume:649;Page:17686] 
11.  
SUE MORONEY (Labour) 
 to the  
Minister for State Owned Enterprises 
: What reports has he received on the performance of State-owned enterprises? 
Hon TREVOR MALLARD (Minister for State Owned Enterprises) 
: 
 I have received a report that shows that at the end of the 2007 financial year the total revenue from State-owned enterprises was $7.8 billion. One example of a successful State-owned enterprise is Kiwibank which has nearly 600000 customers. These are great results and show that Kiwis are switched on to Kiwibank because it is New Zealand - owned and is supporting its local community by paying its tax here and keeping its profits here in New Zealand. 
Sue Moroney 
: Has he seen any other reports on the value of State-owned enterprises? 
Hon TREVOR MALLARD 
: Yes I have. I have seen conflicting reports on the merits of ownership of State-owned enterprises. On the one hand I have seen public reports saying that there are no plans to sell State-owned enterprises while on the other hand I have seen reports of private conversations with conservative activists that suggest that Bill English would seek to sacrifice the kiwi to the dingo eventually. What is clear is that the secret agenda of the National Party is slowly unravelling and Bill English needs to come clean both to the New Zealand public and evidently to his leader. As recently as this morning he did not know what he had said and he was apologising shortly after 10 o’clock for something that at 8 o’clock he said he did not say. 
Gordon Copeland 
: I raise a point of order Madam Speaker. I just wonder whether the Minister could think again about the response he gave when he said that the revenue from State-owned enterprises last year was $7.8 billion. Revenue normally means the profitability after tax etc. of those companies. Did he mean $7.8 billion or $780 million? Could he just clarify that please. 
Hon TREVOR MALLARD 
: The member I understand is an accountant. If he cannot tell the difference between revenue and profit he should hand in his certificate. 
Gerry Brownlee 
: When the Minister said on the  
Agenda 
 programme on 17 June 2006: “something that we could do and something that I’m quite keen on is that as the SOEs develop the new businesses especially those that are done in partnership with people in the private sector we could well have floats of the subsidiary … that could help give a bit of depth to our capital markets and get some transparency around those companies and I think that would help.” was he in fact indicating that a post-election Labour Government—God forbid and most unlikely—would put on the block for sale the DHL - New Zealand Post courier business? 
Hon TREVOR MALLARD 
: If the member had read further into the transcript he would have found that I am absolutely committed never to sell part of the core business of our State-owned enterprises whereas National Party members have said: “It’s all on the block; it’s a question of when not if.” 
Gerry Brownlee 
: I seek leave to table a document showing that when Michael Cullen and Helen Clark were in a Labour Government they sold New Zealand Steel for $327 million. 
Madam SPEAKER 
: Leave is sought to table that document. Is there any objection? There is objection. 
Gerry Brownlee 
: I seek leave to table a document showing that when Michael Cullen and Helen Clark were in a Labour Government they sold Petrocorp for $801 million. 
Madam SPEAKER 
: Leave is sought to table that document. Is there any objection? Yes there is. 
Gerry Brownlee 
: I seek leave to table a document showing that when Helen Clark and Michael Cullen were in a Labour Government they sold State Insurance. 
Madam SPEAKER 
: Leave is sought to table that document. Is there any objection? Yes there is. 
Gerry Brownlee 
: I will cut things short. I assume there will be objection to all of the 17 documents on this list which show some $9.5 billion of asset sales while Michael Cullen and Helen Clark were in Cabinet.