Chairmans Address 2011 NZX AGM
"... The Government’s proposed mixed ownership model for SOE’s is a critical policy plank that will offer investment options to savers, allow the SOE’s to access capital for growth from shareholders who will say yes (when the Government’s priorities mean it is just about always fiscally constrained from so doing), while retaining Government control. If only opponents of this could have the intellectual honesty to recognize that it is a policy that has no losers. Emotive terms – such as “asset sell off” are not accurate and mischievous. For an example of its success one need look no further than Air New Zealand. And I sincerely hope that Government’s advisers are not misguided into thinking that to appeal to Australian investors, our SOE’s, with little or no presence in economies outside our own, should dual list on ASX or elsewhere. That would truly be a monumental waste of time and money and not a great signal for NZ Inc..."
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