Cosgrove Clayton: Questions for Oral Answer — Questions to Ministers 
Text is incorporated into the Bound Volume 
Cosgrove Clayton: Questions for Oral Answer — Questions to Ministers 
[Sitting date: 14 June 2012. Volume:680;Page:2988. Text is incorporated into the Bound Volume.] 
6. 
Hon CLAYTON COSGROVE (Labour) 
 to the  
Minister for State Owned Enterprises 
: Does he stand by all his statements with regard to asset sales? 
Hon STEVEN JOYCE (Minister for Economic Development) 
on behalf of the Minister for State Owned Enterprises: Yes absolutely within the context they were given. 
Hon Clayton Cosgrove 
: Does he stand by his statement regarding asset sales that “This legislation and debate is about debt … it is about controlling our nation’s debt.” and given that according to Treasury and the Budget Policy Statement selling assets will increase the deficit and debt in the long term leaving the country worse off will he accept Labour’s proposed amendment that prevents the sale of State-owned enterprises with control of water resources given that his Government’s own support party United Future has pledged not to sell our water resources off? 
Hon STEVEN JOYCE 
: I think there were about four legs in that question. I certainly do not agree with his characterisation of Treasury’s view of the mixed-ownership model. 
Hon Clayton Cosgrove 
: Given the deficiencies outlined in the Mixed Ownership Model Bill will he accept Labour’s proposed amendments that would make these companies subject to the Official Information Act and allow oversight by the Ombudsman in order to safeguard the public interest; if not why not? 
Hon STEVEN JOYCE 
: I do not accept the supposition in the first clause of that member’s question. 
Hon Clayton Cosgrove 
: Will he accept Labour’s proposed amendment that would prevent New Zealand - based energy-generating assets from being sold offshore; if not why not? 
Hon STEVEN JOYCE 
: It is important for the member to note that the Government at all times is going to hold on to at least 51 percent of these State-owned enterprises. I appreciate that seems to be something he is determined to miss but nevertheless it happens to be the case. 
Hon Clayton Cosgrove 
: I raise a point of order Mr Speaker. That was an extremely straight question. It simply asked— 
Hon STEVEN JOYCE 
: I think the answer is no. 
Hon Clayton Cosgrove 
: Well if the answer is going to be given it should be given in the proper way I would put to you Mr Speaker. It asked a very straight question. It required a straight answer. 
Mr SPEAKER 
: The member’s point of order is a perfectly fair point of order. If I recollect his question correctly though he asked whether the Minister would support a Labour Party amendment that would prevent State assets from being sold overseas. The Minister answered that as I heard him. The Minister pointed out that the assets could not be sold overseas because over 50 percent of the ownership remained with the Government. So the majority ownership of the assets would remain in New Zealand hands. That was what he said—that the Government was retaining over 50 percent and therefore they could not be sold overseas. That was the problem with the wording of the question. I accept that it looked simple but it actually left an out for the Minister.