Turei Metiria: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeTurei Metiria: Oral Questions — Questions to Ministers[Sitting date: 30 March 2016. Volume:712;Page:10005. Text is incorporated into the Bound Volume.]3.METIRIA TUREI (Co-Leader—Green) to the Minister of Finance: Ka tū a ia i runga i te mana o tana tauākī e mea ana “New Zealand Post is Government-owned and we’re going to be keeping it” ā mehemea ka pērā a ia ka pēhea tētahi paku whakawehenga nei?[Does he stand by his statement that “New Zealand Post is Government-owned and we’re going to be keeping it”; if so will he also rule out partial privatisation?]Hon BILL ENGLISH (Minister of Finance): Yes; and yes.Metiria Turei: Has he asked Treasury to work on any options or costings for the full or partial privatisation of either New Zealand Post or Kiwibank?Hon BILL ENGLISH: No.Metiria Turei: Has he discussed at any time with the board of New Zealand Post that privatisation or partial privatisation could be an option; if so when did he do that?Hon BILL ENGLISH: No.Metiria Turei: Can he guarantee Kiwibank customers that their bank will remain 100 percent New Zealand - owned?Hon BILL ENGLISH: Yes.Metiria Turei: What is he doing—[Interruption]Mr SPEAKER: Order! Start the question again.Metiria Turei: Sorry there is just so much chatter from the back end of the room.Mr SPEAKER: Order! Just—[Interruption] Order! There is a considerable volume of interjection coming from the right. The member is right to point that out. It must cease.Metiria Turei: Can the Minister guarantee those who use New Zealand Post that the current level of service that they receive will continue?Hon BILL ENGLISH: I think the member asked whether we could guarantee the continuation of existing services with New Zealand Post and the answer is there is no guarantee of continuing existing services. Recent changes in post discussed in the last few days are part of a plan outlined in 2013 which New Zealand Post is executing to deal with the reality that fewer and fewer people want to use its service and therefore it needs to adapt the way it is organised and maybe diversify into other services.Metiria Turei: What is the Minister doing to ensure that New Zealand Post is able to retain its essential services like rural post?Hon BILL ENGLISH: The Greens could contribute by stopping using email and using envelopes. Post has had a bit of a boost recently from the flag referendum actually with many millions of dollars’ worth of business directed to them by the Government. The rural post is governed to some extent by the relevant agreements with New Zealand Post and we have had no intention to change those in the short term.David Seymour: Can the Minister reassure taxpayers that they are not about to take a Solid Energy - style haircut in respect of New Zealand Post?Hon BILL ENGLISH: There may be a limited appetite for that style of haircut but for the Solid Energy style of haircut—look it is tricky. It is quite a challenge for New Zealand Post and the Government as its owner on behalf of taxpayers to retain ownership of it at the same time as we are seeing the business declining rapidly. There is no doubt New Zealand Post is worth a lot less than it was a few years ago and that is by political consent of its owners—that is its owners want to retain ownership. They do not want to see other people involved in its ownership and seem happy to accept that the business will continue to decline and therefore the value of New Zealand Post will continue to decline and taxpayers’ value is being lost every week.David Seymour: Is any amount of loss to the taxpayer unacceptable when it comes to retaining New Zealand Post?Hon BILL ENGLISH: I am speaking here about loss of value. In terms of profit and loss accounts New Zealand Post is just holding its own. I suppose the answer to that question is that the Government’s clear and firm policy is to retain 100 percent ownership of New Zealand Post.