Banks John: State-Owned Enterprises and Crown Entities (Protecting New Zealand’s Strategic Assets) Amendment Bill — First Reading 
Text is incorporated into the Bound Volume 
Banks John: State-Owned Enterprises and Crown Entities (Protecting New Zealand’s Strategic Assets) Amendment Bill — First Reading 
[Sitting date: 29 August 2012. Volume:683;Page:4892. Text is incorporated into the Bound Volume.] 
Hon JOHN BANKS (Leader—ACT) 
: 
 There is one thing that needs to be put on the public record today and that is that the people of Waimakariri are great judges of character. The ultimate test was election day last year when they transferred the mantle of authority from that Labour member Clayton Cosgrove to the member we have got now for Waimakariri Kate Wilkinson. That proves that the people of “Waimak” are great judges of character. They would not have— 
Brendan Horan 
: I raise a point of order Mr Speaker. I noticed that Mr Banks has notes and I move that we allow him to read from his notes in case he forgets his speech. 
The ASSISTANT SPEAKER (H V Ross Robertson) 
: No no. The member will sit down. That is not a point of order and it is up to the Speaker to judge. 
Hon JOHN BANKS 
: The sponsor of this bill is the former member for “Waimak” who has been transferred to the Labour Party list and so he should. Like the sponsor of this bill this bill will be unplugged. Like the sponsor’s head this bill will be unplugged by the National-ACT coalition this afternoon in Parliament. 
The bill begins with an own goal—the bill begins with an own goal. The explanatory note tells us: “Once a State enterprise or Crown entity company has been omitted from [the Act] a shareholding Minister may sell … the enterprise or company. Future parliaments would thereby be limited in their ability to reverse such changes.” That is what it says in the explanatory note of this silly little bill sponsored by this silly little fellow formerly the member for “Waimak” who is now transferred rightfully on to the Labour Party list—low on the list at that. 
We do not hear rational evidence based on policy from the Labour Party like we used to. The Labour Party electorate of “Waimak” used to have a member called Mike Moore and this front-bench list member sponsoring this bill is no Mike Moore—he is no Mike Moore. Mike Moore was a tower of a man short in height but tall in stature in this Parliament and “mini-Mike” the sponsor of this bill is no Mike Moore. But this is what Mike Moore had to say about this— 
Hon Trevor Mallard 
: I raise a point of order Mr Speaker. I am sure that you were listening to the member speaking and you will reprimand him. 
The ASSISTANT SPEAKER (H V Ross Robertson) 
: This is a very robust debate. There have been a number of interjections and I guess the member is reacting to them but I would ask the member to speak to the bill. 
Hon Trevor Mallard 
: I raise a point of order Mr Speaker. Are you indicating you were not listening to what the member said? Because if you were you would have required him to withdraw and apologise. 
The ASSISTANT SPEAKER (H V Ross Robertson) 
: I was listening but I— 
Hon Chris Tremain 
: The member who initiated this debate used all sorts of expletives about the member down in front. It is tragic for this member to stand now and claim that the member in front of me should not be using those sorts of words. It is crazy. 
The ASSISTANT SPEAKER (H V Ross Robertson) 
: I have heard enough. It is one all. 
Hon JOHN BANKS 
: The World Trade Organization was ably led by a man that this side of the House promoted to the World Trade Organization the former Labour front-bencher Mike Moore. The sponsor of this bill is—sure as hell—no Mike Moore. More recently this is what the real Mike Moore wrote and this is what he would have to say about this bill: “What’s the common denominator in success and failure? Open economies always do better. Trade and competition drive up better results and [help to combat] corruption as well as allocate resources more efficiently. Private ownership spread through society works.” That is what the former front-bench member of the Labour Party the Rt Hon Mike Moore had to say about free trade and private ownership. 
But the days of Mike Moore towering above this House no longer exist. What do they have today? They have the member of the Labour Party who formerly represented “Waimak” as the towering pigmy of former member Mike Moore who was the World Trade— 
The ASSISTANT SPEAKER (Lindsay Tisch) 
: Righto I have heard enough. The member will concentrate on the contents of the bill. This is the first reading of the bill and we want to hear the substance of the bill. 
Hon JOHN BANKS 
: The problem with the bill is that it will not work. The introductory remarks of the bill state that a shareholding Minister may sell a public asset. What is the bill all about if a shareholding Minister may sell a public asset enterprise or company? “Future parliaments would thereby be limited in their ability to reverse such changes.” We know that Governments are not good owners of public cash-earning assets. We know that the private sector can run public assets better than the public sector. Labour needs this legislation because it cannot defend public ownership on evidence. These have been studied to death. Public or private ownership of assets has been studied to death in many many studies and the jury is in. Private enterprise runs businesses better than the Government can. That is why we do not need this bill and that is why members on this side of the House in the majority will be voting this bill down. 
When I look at bills like this one today it is little wonder that the good people of “Waimak” made a solid decision and chose Kate Wilkinson who will be voting against this bill today and who will be voting down this bill today on behalf of the people of “Waimak”. We will be voting it down today on behalf of the people of Epsom. The ACT Party opposes this bill— 
The ASSISTANT SPEAKER (Lindsay Tisch) 
: I am sorry to interrupt the member but his time has expired.