Horan Brendan: Mixed Ownership Model Bill — In Committee 
Text is incorporated into the Bound Volume 
Horan Brendan: Mixed Ownership Model Bill — In Committee 
[Sitting date: 20 June 2012. Volume:681;Page:3172. Text is incorporated into the Bound Volume.] 
BRENDAN HORAN (NZ First) 
: 
 I rise on behalf of New Zealand First to oppose this bill the Mixed Ownership Model Bill. Let us look at five facts. First the five energy-generating State-owned enterprises raised $868 million in dividends last year. That is a return of 16.2 percent in the last 10 years and by comparison the Government could borrow at a rate of 3.66 percent per annum. The Government has said that the proceeds from the asset sales will go towards investing in new infrastructure. We heard that today. Well despite this the Government plans to spend $150 million from the Future Investment Fund on doing up New Zealand House in London. 
There is also a loophole in this legislation that means that the Government can sell more than 49 percent of these shares in these State-owned enterprises given that the 10 percent and 51 percent restrictions should be calculated on the basis of voting rights rather than the total percentage of all securities. Growing rates of poverty show that the mum and dad investors are having a hard enough time putting food on the table let alone investing in companies that they already own.  
Earlier today we heard some members from that side of the Chamber speaking about how Winston Peters had sold Auckland International Airport shares. Let us bring a little bit of honesty to that argument. First of all New Zealand First was in coalition with the National Government. It was a National Government idea to sell those Auckland International Airport shares. National was going to sell them to anybody but New Zealand First put in there—and Winston Peters made sure that there was—a clause that those shares went only to New Zealanders. After doing that the Rt Hon Winston Peters reflected and realised it was wrong and said so at the time. Mr Brownlee would remember that.  
What happened when that Government over there tried to sell Wellington International Airport? A man of infinite character honesty and integrity who was Deputy Prime Minister said: “No. I will have nothing to do with selling these Wellington Airport shares.” and walked. That was the coalition gone. It is too bad that the Hon Tau Henare is not here. If he is watching TV if he could get out of his barber’s chair—I apologise. 
The CHAIRPERSON (Lindsay Tisch) 
: Order! 
BRENDAN HORAN 
: I apologise for that. 
The CHAIRPERSON (Lindsay Tisch) 
: I know you are apologising. I know what you are apologising for. There have been too many references to members who are not present and we must make sure we do not comment on the absence of members from the Chamber. 
BRENDAN HORAN 
: Thank you Mr Chair. [ 
Interruption 
] It is very hard for those members over there to learn anything with their lips flapping. Perhaps if the Hon Gerry Brownlee would stop his lips flapping then he would be doing a bit more for the people of Christchurch because he would hear what is really happening there. But as I was saying—before I was rudely interrupted—there is a man Winston Peters who left the deputy leadership on principle. Now there is an opportunity for those members over there to walk across the floor because they know that this is wrong for New Zealand. We have heard it before in their unconvincing speeches. 
Let us talk about the Hon Mr Dunne who campaigned on the preciousness of our water. We heard about that earlier today. And yet here he is trying to sell our water. One of the great things about New Zealand is our water.  
Hon Gerry Brownlee 
: You can talk rubbish but you can’t tell lies. 
The CHAIRPERSON (Lindsay Tisch) 
: Order! Do not say that.  
BRENDAN HORAN 
: The reason why our water is so precious is because it carries the wairua of New Zealand. 
Hon Clayton Cosgrove 
: I raise a point of order Mr Chairperson. The Leader of the House—who is the Leader of the House and should know better—used an unparliamentary term. I waited for a few moments to see whether you would admonish him. But I think you are very well aware that that term and accusation of a member cannot be used. 
The CHAIRPERSON (Lindsay Tisch) 
: Speaker’s ruling 42/2 says that you cannot say the word “lie”. From now on in I want to keep it seemly. It is a robust debate. I did warn the member that he could not say that and I do not want to hear that again. 
Hon Clayton Cosgrove 
: I raise a point of order Mr Chairperson. With respect—and thank you for your ruling—as I understand it it is the normal practice if that word is used that the member withdraws and apologises especially somebody as eminent and powerful as the Leader of the House. 
The CHAIRPERSON (Lindsay Tisch) 
: It is my view and I make the decision. I have ruled that he will not do it again. I am asking Brendan Horan to complete his speech. That is the end of the matter. 
BRENDAN HORAN 
: This water contains the wairua of New Zealand. It is the blood and bones of our ancestors that has leached through the soil into the waterways. How could this Government sell our wairua—our soul? That is why the Maori members on that side of the Chamber are not standing up and giving convincing speeches. 
Yesterday I drew your attention—and the media’s attention—to Genesis and the Genesis chair Ms Shipley. Last year just before the Budget remember that Genesis purchased two power stations at Tekapo.