Peters Winston: Mixed Ownership Model Bill — First Reading 
Peters Winston: Mixed Ownership Model Bill — First Reading 
[Volume:678;Page:1004] 
Rt Hon WINSTON PETERS (Leader—NZ First) 
: 
 This is not really the Mixed Ownership Model Bill this is the “How National Made Quisling Look Like a Patriot Bill”. This is the “How National Made Benedict Arnold Look Like a Loyalist Bill”. Not only is the whole concept of selling our power stations deeply flawed the process of sale has been designed to gain the maximum benefit for the share traders and the minimum benefit for taxpayers.  
What you just heard from Pita Sharples was a valedictory speech and I can say now with certainty that the Maori Party its three members will be resigning from this Parliament long before the next election. I do not see Peter Dunne surviving either because he campaigned on water being a strategic asset. That is the critical component of these sales and he has walked out on his pre-election commitments. This Government has not got a majority for that reason and those members know it full well. The taxpayers are the rightful owners and should be the beneficiaries of any sale but this will not happen. This is a process arranged by the greedy for the greedy just like this is a Government of the greedy by the greedy and for the greedy.  
There are some vital facts that it is not talking about and fortunately we are back here in time to reveal them. The first is that the sharebrokers and financiers Aussie banks merchant bankers and the so-called markets are going to take $200 million in fees commissions underwriting guarantees and other expenses. 
Hon Member 
: How much? 
Rt Hon WINSTON PETERS 
: Two hundred million dollars is going to these people; $200 million of taxpayers’ money is going straight to the middlemen.  
So what happened to cutting out the middlemen? In this case you have got a Government made up of middlemen and they look after their mates. Why did the National Party receive millions and millions of dollars in election campaign funds? The answer is simple. It was a sound investment by the middlemen the ones I have just described who are going to get $200 million for a start in all these fees and commissions whilst they—these Aussie advisers—give the Government independent advice.  
Do you like that? They are going to get all this money for giving this advice and can you imagine them saying this is a bad idea it is bad economics the fiscals do not add up? No sir. It was a sound investment by these middlemen because they knew that hundreds of millions would be returned to them from ordinary New Zealanders by a National Government sell-out. And they did not have to wait long did they? When the election is just over next year or next minute here come the middlemen—the National Party’s fund-raising experts.  
It does not stop there. The Prime Minister has finally let slip that mums and dads will not be at the front of the queue unless they are mum and dad brokers and mum and dad foreign buyers. The smiley face “Mr Spray and Walk Away” got away with it all for over 3 years. Say any old statement you like—typical Merrill Lynch—get the deal done it does not matter what happens and devil take the hindmost. And here we are just like the American taxpayers who had to bail out Merrill Lynch for practices we all know about and now the Prime Minister of this country is exposing New Zealanders to the same behaviour. That smiley-face mask of this Government has all of a sudden gone lopsided and it is not a pretty sight.  
If you look at how the Maori Party has betrayed its people over this it is not a pretty sight is it? Did you hear that speech? Was it one of principle of belief? No Mr Sharples and Tariana Turia know as does Te Ururoa Flavell that they have sold their people down the drain but Pita Sharples gave us a lecture about it. He talked about the principality and sovereignty of land and the taonga of ownership. And that would require I am sure what we did back in 1998 when we gave up the second most powerful job in this country because National wanted to sell to a foreign owner the company called Contact Energy. Anybody in National can get up and have a go like Mr Coleman today. Mr Coleman that is my bona fides. I would not do it so do not get up here and tell the country a whole lot of hypocritical nonsense and drivel. That is the fact.  
You know if you look at how the Maori Party has betrayed its people it is not a pretty sight. It is legally impossible to interpret this legislation. No court in the world will accept company articles that state 51 percent of the shareholders are subject to the principles of the Treaty of Waitangi. Fifty-one percent are subject to the principles; the other 49 percent are not. Now that is a legal nullity. And there is the genius the Attorney-General Mr Finlayson who has not a word to say about whether he thinks this is an elegant solution. Does he think that it is actually an elegant solution?  
Nobody knows what these principles are in the first place and for the Maori Party to claim some sort of victory over this makes me wonder how it can ever claim that it represents Maori in any way. There those members are standing by their so-called principles whatever they may be pleading for crumbs from the table of the National Party. It is no joy for Maoridom to see them at the table having their heads rubbed—taken to the cleaners—just because they want to keep the LTD vehicles and the ministerial homes. We know what those baubles are. But we know what it is like to walk out on those baubles on matters of principle. Do not sit over there—[ 
Interruption 
] No do not sit over there. I know what it is like. I know what it is like. Do not come along here and try to mislead New Zealanders. When we see something that is rotten we walk and we have done it countless times. We do not go along with this sort of quisling Benedict Arnold behaviour. How can they ever go back to the marae and say to the people “We really fought for you over this one. We got you some principles—51 percent of them.”? They got them some principles—51 percent of them.  
Another deep flaw in this legislation is that there is nothing to stop these new companies post the sale issuing new non-voting shares. Any issue of any non-voting shares will dilute the Crown’s equity in the companies and reduce its influence in the appointment of directors. And we know that companies are run by directors not shareholders. The directors on the boards of these companies have wide-ranging powers. They will not be acting in the interests of mums and dads who have to pay escalating power bills—and the Maori voter is the worst one to be punished by rising prices. So what are they doing? Are they walking over to say to Mr Key “We are finished with you because you are selling out our country.”? No. They are staying. I always knew Peter Dunne would. Peter Dunne is a classic example: he will double-cross that bridge when he comes to it. He is a classic example of the old adage: “I’ll double-cross that bridge when I come to it.” But truly the Maori Party could set an example. It should set an example.  
Whatever way you look at it the people are the real losers and the power stations will end up not in our hands but in foreign control and the slide of our economy down the OECD will just go on and on. All the great lessons of Singapore Norway and what have you are totally lost on the people who call themselves the National Party when we all know they are the “International Party”. Give up the name for goodness’ sake so we can all recognise you for what you are. The power companies in this country are already operating a price-fixing cartel aided and abetted by the Commerce Commission. When were the prices regulated?  
It will get worse. There are many long cold winters ahead. We urge New Zealanders not just to go out and sign the petition—but please do that. Get out and do it now in the next 2 months. Make sure you take everybody along: mum grandad—the whole lot. Sign the petition. But here is what you have got to do as well: get out your pen your laptop and your phone and start ringing every National Party backbencher especially those in the marginal seats. Do not rest up. Call the whole lot up. Keep it going. You have got the power and tell them the power is not for sale. You have got the power: tell them your power is not for sale. Do not stay at home and ring up the talkback shows only; get out there and go down to their clinics on Monday when they do hold one—for those who do visit their electorate now and again. I know Mr Key will not be holding one in Helensville. 
Brendan Horan 
: There won’t be one in Dipton. 
Rt Hon WINSTON PETERS 
: There will not be one in Dipton I know. But pay for the extra stamp write letters and give them to know that if they go ahead with this sort of treason you intend to get rid of them and as soon as possible.