Mentions of Toll Holdings (NZ) Limited in New Zealand Parliament debates
Toll Holdings (NZ) Limited has been mentioned in 49 parliamentary debates since November 2005.
Road User Charges Bill
Second Reading 6 Sep 2011
DARIEN FENTON ... quite a lot of opposition coming their way. When companies like Fonterra, which is New Zealand’s largest company, and Toll New Zealand are opposing this bill, I have to say we have to be very, very worried that this Government is not ...
DAVID SHEARER ... pointed out, is the degree of consultation that has taken place. A number of major users are opposed to this bill. Toll New Zealand, which is a large company and actually a very responsible company—it uses both road and rail, and is ...
KRIS FAAFOI ... in the process, and the lack of consultation with the industry. As David Shearer pointed out in his contribution, Toll New Zealand also made a submission on the lack of consultation. In point 2.4 of its submission Toll stated: “The Bill ...
Transport
KiwiRail—Railway Workshops 15 Jun 2011
Hon David Parker ... Korean trains were built in Korea.”, was he aware that at that time the railways were not owned by KiwiRail but by Toll, and the tender was not from either Toll or the then Government, but rather from the Greater Wellington Regional ...
Hon David Parker That was a very long yes. Was he also aware that Hillside workers at the time were trusted by Toll, employed, and kept busy cost-effectively rebuilding rolling stock for the Auckland commuter trains, thereby keeping ...
Hon David Parker Is not the real reason he misrepresented the record of the Labour Government, Toll, and Hillside that he is trying to avoid his Government being held to account?
Hon David Parker Is not the real reason he misrepresented the record of the Labour Government, Toll, and Hillside that he is trying to avoid his Government being held to account for its double standard in subsidising ...
Roading, Auckland—Pūhoi to Wellsford Route 17 Nov 2010
Hon STEVEN JOYCE ... significance between Pūhoi and Wellsford. The first stage will take traffic from the top of the new Northern Gateway Toll Road—[ Interruption]
Hon STEVEN JOYCE ... matter may be of interest to the Speaker. The first stage will take traffic from the top of the new Northern Gateway Toll Road to Warkworth, and will eventually stretch all the way to Wellsford. Very little design work had been done on ...
Civil Aviation (Cape Town Convention and Other Matters) Amendment Bill
Third Reading 23 Jun 2010
DARIEN FENTON ... Labour-led Government, so there was consultation with the aviation sector, the Financial Services Federation, and Toll NZ in 2005-06, and then in May 2009 further consultation was conducted with a range of parts of the aviation sector ...
DARIEN FENTON ... being covered. The Royal New Zealand Aero Club, which is a general aviation interest group, supports accession. Toll NZ supports accession to the convention, and it wants to be consulted in the future regarding accession to the ...
Local Government (Auckland Law Reform) Bill
In Committee 2 Jun 2010
DARIEN FENTON ... protest of vehicles on State Highway 1 in the Rodney district. It will travel 18 kilometres from the Northern Gateway Toll Road tunnels to Kowhai Park Scenic Reserve in Warkworth, and the people of north Rodney—former solid National ...
Environment
Resource Management Act Reforms—Role in Infrastructure Upgrade and Economic Growth 16 Aug 2011
Hon Dr NICK SMITH ... Connection project, and the $420 million Wiri Prison. I contrast this with projects like the Northern Gateway Toll Road project, which took 10 years, and the Wellington inner city bypass, which took 15 years. The Environmental ...
Resource Management Act Reforms—Consents Process 15 Sep 2009
Hon Dr NICK SMITH ... today, but I will give a few. Project West Wind took over 3 years to get consented. I note that the Northern Gateway Toll Road north of Auckland took 10 years. The Whangamata marina took over 10 years, albeit we scrapped the power for the ...
Infrastructure Bill
First Reading 25 Aug 2009
DAVID BENNETT ... It did not do due diligence on its purchase of rail. It missed out on a great opportunity to take advantage of Toll’s management capabilities and it ended up paying far too much for an asset that needs a lot of investment. This ...
Budget Debate 3 Jun 2009
Hon STEVEN JOYCE
... Labour Government spent even more money. It bought the railways. That was a fine investment! It cost $690 million. Toll Holdings was the steal of the century. Labour then spent hundreds of millions more on the railways, and, as a result, today it ...
... Labour Government spent even more money. It bought the railways. That was a fine investment! It cost $690 million. Toll Holdings was the steal of the century. Labour then spent hundreds of millions more on the railways, and, as a result, ...
Debate on Budget Policy Statement 25 Mar 2009
CRAIG FOSS
... In the May 2008 Budget there was a contingent liability that alluded to the shambles of the buy-back of rail from Toll Holdings. The amount was something like $500 million, from memory, and there was a line that stated that this may have to be ...
... In the May 2008 Budget there was a contingent liability that alluded to the shambles of the buy-back of rail from Toll Holdings. The amount was something like $500 million, from memory, and there was a line that stated that this may ...
Social Development and Employment
Social Services—Savings 12 Feb 2009
Hon Annette King Is one of the savings a directive to the staff of Work and Income not to use the 7.5 kilometre Northern Gateway Toll Road unless there is an emergency, thereby spending $6 in additional travel costs to save the $2 tolls—not forgetting ...
Address in Reply 12 Feb 2009
DAVID BENNETT ... of New Zealand. What else did Labour do? It felt it was better to put money into the hands of Australians—through Toll—by paying for a rail network rather than delivering the roading infrastructure that New Zealand needs. It was ...
General Debate 2 Jul 2008
Hon BILL ENGLISH ... of a developed country, but there are hundreds of millions of dollars to pay a premium, as Dr Cullen calls it, to Toll Rail to line the pockets of its Australian shareholders, just so that he can buy rail in an election year. You see, ...
Hon MAURICE WILLIAMSON ... it. It paid $1.7 billion—I think the number is up to that now—for a train operation that it cannot justify. Somehow Toll threatened the Government that if it did not spend that, Toll would close some lines down. Well, of course Toll would ...
Education
Education, Ministry—Confidence 2 Jul 2008
Hon TREVOR MALLARD Who is the local MP? Anne Tolley. I wonder whether, if the electorate had a half-competent local MP, the matter would have been drawn to the Minister’...
Land Transport Management Amendment Bill 2007
Third Reading 3 Jul 2008
PANSY WONG
... the Minister of Finance suddenly tabled an urgent Supplementary Order Paper, apparently on the theory of tempting the Toll Holdings shareholders to buy back the rail, now we know that the cost is going up every day. By the way, the Prime Minister was ...
... the Minister of Finance suddenly tabled an urgent Supplementary Order Paper, apparently on the theory of tempting the Toll Holdings shareholders to buy back the rail, now we know that the cost is going up every day. By the way, the Prime ...
Instruction to Committee 1 Jul 2008
Hon Dr MICHAEL CULLEN ... this amendment does is to provide that the rights in respect of Government superannuation of existing employees of Toll NZ who are within the Government Superannuation Fund are unaffected by the change in the ownership of that company. ...
Hon BILL ENGLISH ... about all the good things it will do for New Zealand, but it forgot that the several thousand people who worked for Toll had entitlements under the Government superannuation scheme and that under the deal Labour has done, the workers will ...
Hon BILL ENGLISH ... the Government does not have any long-term plans for either of those things. The purchase of New Zealand rail, or Toll, does not change the fundamental fact that it will still need to be subsidised. As my leader pointed out today, the ...
Hon BILL ENGLISH The point is pretty obvious. If the Government is doing a transaction with Toll, then the interests of the workers, one would have thought, would be something that the Labour Government would take ...
GERRY BROWNLEE ... railways were bought for a dollar and are now valued at over $10 billion. But that is the problem. You see, poor old Toll was asked to pay a rental on the tracks that reflected that $10 billion value. [Interruption] Those ...
GERRY BROWNLEE ... it will never be able to make a single penny out of it. We, of course, will not want to see workers who have served Toll and New Zealand Rail for all that time penalised. That is our record. [Interruption] Darien Fenton ...
Hon MAURICE WILLIAMSON ... after that the Births, Deaths, Marriages, and Relationships Registration Amendment Bill. It could have been that the Toll workers got their superannuation protected through the Births, Deaths, Marriages, and Relationships Registration ...
Hon MAURICE WILLIAMSON Well, Toll has kept that. We have been done over a few times by the Aussies, with the underarm bowling incident and the single ...
Hon MAURICE WILLIAMSON
... Government: in its race to buy an asset that was not worth even half of what it paid for it, it could have told Toll Holdings that it would give it $370 million, which is basically what was originally paid for it—take it or leave it. I can tell ...
... a wonderful idea it was to be buying back the rail operation, had not thought for one minute about the workers at Toll who would be coming into the State sector. It is really important that members of the public and members of the ...
PANSY WONG ... Government would do this—“any person who, immediately before 30 June 2008, is employed by the company”, which is Toll NZ. I will come back to that point. So Labour not only forgot about this matter but is doing something about ...
BRIAN CONNELL ... last moment—we have in this House a Supplementary Order Paper trying to protect the superannuation entitlements of Toll’s workers because the Government, in its haste to buy this organisation, forgot about a fundamental principle, the ...
BRIAN CONNELL ... then address this issue in particular. My issue was whether the board could find an organisation that would buy Toll. I think the debate that must have gone on in the Toll boardroom was that they thought they knew a party that might ...
DAVID BENNETT ... with the mistakes of the Labour Government. There are many mistakes of the Labour Government with regard to the Toll purchase, and we can go through them at length. But the mistake we are looking at today is a fundamental mistake.
DAVID BENNETT It is fundamental, in that it affects the workers of Toll. It affects all workers in New Zealand as well, because it shows that the Minister of Finance does not consider their ...
DAVID BENNETT
... It tells us that he is not a very smart business person. It tells us that as soon as he walked in the door of Toll Holdings to negotiate with it, that company was licking its lips. That is why we need to look at this Supplementary Order ....
... debts that he would incur. He did not think about the fact that he was giving preferential rights to certain land to Toll’s trucking operation, a decision that he has now had to reverse again. He did not think about the fact that he is ...
In Committee 1 Jul 2008
Hon MAURICE WILLIAMSON ... When I have looked at projects overseas on a regular basis, from the Millau Bridge in the south of France to the M6 Toll in Birmingham to the M7 in Sydney to the ConnectEast project in Melbourne, I have seen that those projects have all ...
PANSY WONG ... hour today, as part of this bill the Minister of Finance had to introduce Supplementary Order Paper 211 to ensure the Toll workers—[ Interruption] Actually, if the ex-Tauranga member would like to speak, he had better take a call. The ex-Taur...
DAVID BENNETT As we look back on this legislation, I think we will see it in relation to the purchase of Toll NZ by this Government. The question from the ACT party today was pretty apt. It asked how such a deal could be so ...
Hon MAURICE WILLIAMSON ... debt, public debt, public-private partnerships, private equity schemes, infrastructure bonds, all sorts of shadow tolling regimes, and so on. Yet we seem to be absolutely fixated on funding our land transport infrastructure on the one ...
PETER BROWN ... it. It was also quite correctly suggested that the rail was asset-stripped once it was sold. But I say “Fair go” to Toll; it has improved the rail. It is better now than it was when Toll bought it, so there is a premium price to be paid ...
In Committee 1 Jul 2008
Hon ANNETTE KING ... its inclusion in the bill. Rather than the Government forgetting about the workers, in less than 12 hours after the Toll sale being agreed to, we have introduced, through this Supplementary Order Paper, the retention of the superannuation ...
Hon MAURICE WILLIAMSON ... speech on each of about five or six of the main subjects the Minister has just covered. The Minister talked about Toll, then she talked about hypothecation, then she went on to talk about the Government policy statement, the planning ...
Second Reading 26 Jun 2008
Hon ANNETTE KING ... of a sustainable transport system is evidenced by our very recent announcement that the Government will be purchasing Toll’s rail interests. I therefore strongly endorse the committee’s recommendation that an expressed reference be made to ...
Budget Debate 29 May 2008
CHRIS AUCHINVOLE
... My great fear is that the purchase arose simply from the Government’s inability to complete a negotiation with Toll Holdings. How is money made from a railway? It is made by having control at both ends. Toll Holdings is already the largest ...
... My great fear is that the purchase arose simply from the Government’s inability to complete a negotiation with Toll Holdings. How is money made from a railway? It is made by having control at both ends. Toll Holdings is already the ...
Budget Debate 28 May 2008
CHRISTOPHER FINLAYSON
... in charge of Treaty of Waitangi Negotiations, he can open the cheque book and spend. But that is what he did with Toll Holdings. Faced with a rent dispute he bought the whole house at four times its market value. There were no checks and balances.
... in charge of Treaty of Waitangi Negotiations, he can open the cheque book and spend. But that is what he did with Toll Holdings. Faced with a rent dispute he bought the whole house at four times its market value. There were no checks ...
Dr JONATHAN COLEMAN ... of economic transformation for the Labour mob is a “$690 million capital investment in 2007/08 for the purchase of Toll New Zealand’s rail business.” Is that not an indictment? The platform for economic growth is buying back the ....
Budget Debate 27 May 2008
Hon BILL ENGLISH ... by $4.4 billion. In 2007 Government spending increased by $4.7 billion. This year, 2008, it estimates—before the Toll purchase—that it will increase by $3.3 billion. Who believes that with increases of $3 billion, $4.4 billion, and $4.6...
Hon SHANE JONES ... lesson for the Opposition, a bit later on. We heard her complain about the absence of travel capacity. I say: “Toll, bye-bye.” What has been Bill English’s contribution? Bill English says that National would use the private sector ...
DAVID BENNETT ... world economy with their great ambitions are dreaming. We can see how much they are dreaming. The Government bought Toll NZ off an Australian company that was doing a really good job of looking after it. What did that Australian company ...
Hon HARRY DUYNHOVEN ... National had sold off the railways at a fire-sale price to investors who simply asset-stripped it then sold it on to Toll. Each police car had done something like an average of 200,000 kilometres, and one of the first things that this ...
Dr ASHRAF CHOUDHARY
... was a dumb idea. Then he said National would have no option but to keep the asset that it would have acquired from Toll Holdings. That is another flip-flop.
We have heard what the Leader of the Opposition has said on Iraq. In September 2003 he ...
... was a dumb idea. Then he said National would have no option but to keep the asset that it would have acquired from Toll Holdings. That is another flip-flop.
We have heard what the Leader of the Opposition has said on Iraq. In September ...
Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Bill
Third Reading 22 May 2008
R DOUG WOOLERTON ... the rewards of good management in that instance. Therefore, we are pleased to see in this Budget the purchase of Toll’s rail and ferry operations, which was announced before the Budget but allowed for in the Budget. We understand that ...
CRAIG FOSS
... that paragraph means we paid about $290 million too much, and we have seen that reflected in the share price of Toll Holdings.
This part is blatant. I cannot recall it being mentioned in the Minister’s speech yesterday. The paragraph quoted ...
... I refer them to page 153 of the main Budget document, under the heading “Purchase of Rail and Ferry Network from Toll Holding Limited”. I will read out the last paragraph, and members should remember that the Government has put $690 ...
General Debate 21 May 2008
SIMON POWER
... of that many years in politics? The Labour Party knows that this issue will not go away, nor will the issue with Toll Holdings, the immigration scandals, or the fact that the emissions trading scheme is in a shambles, violent crime is ...
... of that many years in politics? The Labour Party knows that this issue will not go away, nor will the issue with Toll Holdings, the immigration scandals, or the fact that the emissions trading scheme is in a shambles, violent crime is ...
General Debate 14 May 2008
Hon PETE HODGSON ... obsessed by the buy-back of the rail carriages. I reckon that I have worked out why they did not want us to buy out Toll, and I think it is to do with John Key’s history. In 1993 the then National Government sold New Zealand Rail. It sold ...
Hon SHANE JONES ... Fay Richwhite cabal—and, fortunately, some of them faced virtual charges from the Securities Commission. Secondly, as Toll has suffered all sorts of financial woes in the sharemarket of Australia, Dr Cullen had the opportunity to engage in ...
SUE MORONEY ... which is consistent with our SOE policy.” But in March 2008 Bill English said: “We certainly wouldn’t be buying Toll. … We need to look after taxpayers’ interests and the network and the best way to do that is to have a competent ...
Urgent Debates - Toll Holdings—Rail and Ferry Purchase
Toll Holdings—Rail and Ferry Purchase 13 May 2008
Madam SPEAKER
... have received a letter from John Key seeking to debate under Standing Order 380 the decision by the Government to buy Toll Holdings Ltd’s rail and ferry operations. This is a particular case of recent occurrence involving ministerial responsibility. ...
... have received a letter from John Key seeking to debate under Standing Order 380 the decision by the Government to buy Toll Holdings Ltd’s rail and ferry operations. This is a particular case of recent occurrence involving ministerial ...
JOHN KEY
... the train. On 30 June the New Zealand taxpayer will part with the better part of $1 billion to buy a train set off Toll Holdings—not that we would know it from the announcement of the Government. You see, the Government wanted people to think it ...
... the train. On 30 June the New Zealand taxpayer will part with the better part of $1 billion to buy a train set off Toll Holdings—not that we would know it from the announcement of the Government. You see, the Government wanted people to ...
JOHN KEY
... Auckland International Airport. Those people cannot have a windfall gain, but if one is an Australian shareholder of Toll Holdings it is a completely different issue. Those shareholders can have half a billion dollars, but the Government tells the ...
...right—it bought a trucking company. It went out and bought a trucking company. What is interesting about the deal with Toll is that the Government has left Toll with the really valuable bits of the business. It left the company with the ...
Hon Dr MICHAEL CULLEN ... investment programme? When was that a standard accounting principle to be applied in this case? Is he not aware that Toll was looking to the Government for a subsidy for exactly that investment while the track remained in private ownership?...
Hon Dr MICHAEL CULLEN ... Rail Access Agreement. We had an agreement; it provided for arbitration. We went to arbitration and we basically won. Toll refused to accept the arbitration and, secondly, it was looking for subsidies on top of that subsidy on the track ...
PETER BROWN ... details of the negotiations. But $665 million strikes me as being a lot of money, particularly when it was bought by Toll for, I think, $394 million a few years back. So New Zealand First waits with interest to see the details of the ...
PETER BROWN ... Even David Bennett is acknowledging that we do. The second question that the member may be able to answer is whether Toll would deliver an efficient railway system as efficiently as this country needs. I have to say that it would not. Even ...
PETER BROWN We have only to follow the track record thus far. Toll was closing down segments. Toll, a monopoly provider, has to service principally the interests of its shareholders. ...
PETER BROWN ... We suspect that $665 million is somewhat over the top, but one would expect that sort of figure to buy rail back. Toll was in a monopoly position. It had an asset that had to be developed, and it still needs to be developed. The ...
JEANETTE FITZSIMONS ... a try at the time. Getting an experienced rail company to run the trains seemed worth a try, but ever since 2003 Toll New Zealand and the Government have been locked in combat about the meaning of the track access agreement and the ...
Dr PITA SHARPLES The Māori Party comes to this debate with a range of feelings about the Government’s snap announcement to buy Toll’s rail and ferry business for $665 million. The decision to claw back significant assets into the ownership of the ...
Hon ANNETTE KING ... because that is what is needed. What the National Party has not told people is that the company that owns rail now, Toll, was not interested in keeping lines open in provincial New Zealand. It was not interested in the upkeep of railway ...
Agriculture
Sustainable Pastoral and Food Innovation Initiative—Investment 18 Mar 2008
Hon Bill English ... seen so much waffle about next to nothing, and that this is just another initiative, like the proposal to buy back Toll Rail, that involves the Labour Government pledging $1.5 billion of taxpayers’ money in a fortnight to unwise ...
Electoral Finance Bill
Second Reading 22 Nov 2007
R DOUG WOOLERTON
... members that I am well aware—well aware—of the Waitemata Trust. Its donation to the National Party was $1,254,845. Toll Holdings—and God bless Toll Holdings for identifying itself—donated $25,000. The Westpac Banking Group donated $30,000. The ...
... members that I am well aware—well aware—of the Waitemata Trust. Its donation to the National Party was $1,254,845. Toll Holdings—and God bless Toll Holdings for identifying itself—donated $25,000. The Westpac Banking Group donated $30,000....
General Debate 10 Oct 2007
Hon MAURICE WILLIAMSON ... so it is not as if they are just for a Tory regime. The Labour Government in the United Kingdom built the M6 Toll with a public-private partnership. Socialist Governments throughout Europe have used public-private partnerships. But ...
Conservation
Mount Ruapehu—Lahar 20 Mar 2007
Hon CHRIS CARTER ... record the Government’s thanks to officials from the Department of Conservation, civil defence, the Police, Transit, Toll, the Horizons Regional Council, and the Ruapehu District Council, who instituted what are regarded as world best-practi...
Hon CHRIS CARTER ... could apologise to the hard-working staff of the Department of Conservation, civil defence, the Police, Transit, Toll, the Horizons Regional Council, and the Ruapehu District Council who laboured through his political grandstanding to ...
ACC
Accident Compensation—Changes to System 6 Sep 2006
Gerry Brownlee
Has the Minister for ACC turned a blind eye to the appalling accident record of Toll Holdings Ltd because of the huge political donation it made to the Labour Party in return not only for her turning a blind eye ...
Has the Minister for ACC turned a blind eye to the appalling accident record of Toll Holdings Ltd because of the huge political donation it made to the Labour Party in return not only for her turning a ...
Hon RUTH DYSON ... compounded by the fact that the Occupational Safety and Health Service investigates all injuries, including those of Toll. I seek the leave of the House to table the memo of the Chief Executive of the Insurance Council of New Zealand, ...
Prime Minister
Rail and Ferry Purchase—Financial Return 2 Jul 2008
Tim Barnett Which lines did Toll threaten to close if it did not get what it wanted in the rail access agreement?
Rt Hon HELEN CLARK I understand that the services that would have been closed under Toll’s plan B, in response to that situation, included the Overlander passenger service, the central North Island section ...
John Key
... the value of the premium that the Crown paid, as indicated by Dr Cullen yesterday, for the purchase of KiwiRail from Toll Holdings?
... the value of the premium that the Crown paid, as indicated by Dr Cullen yesterday, for the purchase of KiwiRail from Toll Holdings?
Rt Hon HELEN CLARK ... time—which he never disclosed, as far as we can see—said publicly that shareholders were telling him they supported Toll’s offer for Tranz Rail over the Government’s offer. Well, he would, would he not, because he was a shareholder, yet ...
Rt Hon HELEN CLARK The member misses the point. Taxpayers were up for hundreds of millions of dollars to subsidise Toll. The Government has made a decision that that does not make sense, when the opportunity for ownership is there. I ...
John Key
... be negative and therefore will not talk to us about it, that she has no idea of the premium that the Crown paid to Toll Holdings, and that she actually has no idea how the rolling stock will be paid for or how much it will cost—that when it comes ...
... be negative and therefore will not talk to us about it, that she has no idea of the premium that the Crown paid to Toll Holdings, and that she actually has no idea how the rolling stock will be paid for or how much it will cost—that when ...
Speech from the Throne—Political Integrity of Parliament and Electoral Process 6 Sep 2006
Gerry Brownlee ... Minister expect the public to draw from Labour receiving donations from the unions to focus on employment law, from Toll NZ to give it cheap access to the rail track and a cash deal for its business, from WestpacTrust in order to get the ...
Finance
Rail—Investment 23 Sep 2008
Hon Bill English Can the Minister tell Parliament why he paid for Toll Rail almost twice as much as the best official advice he could get on its valuation, and does that mean that because ...
Hon Dr MICHAEL CULLEN ... with other people’s money. But coming to the point of the matter, I say that half of the purchase price for the Toll operation was to buy it out of a contract that would have led to ever-growing subsidies being paid to an Australian ...
Rail and Ferry Purchase—Financial Return 3 Jul 2008
Hon Dr MICHAEL CULLEN ... Any assessment of financial returns needs to take account of the counterfactual, which was continuing subsidies to Toll, and indeed increasing subsidies to Toll, or major line closures, increased roading costs, and increased greenhouse ...
Hon Dr MICHAEL CULLEN ... financial returns needs to take account of the counterfactual, which was continuing—indeed, increasing—subsidies to Toll, or major line closures, increased road costs, and increased greenhouse emissions. The actual expected rate of return,...
Hon Dr MICHAEL CULLEN ... something like $12 billion or $13 billion going into roading and public transport subsidies over that period of time. Toll is expecting a total subsidy in 2008-09 of approximately $90 million.
Hon Dr MICHAEL CULLEN ... National Rail Access Agreement, and that was against the background that to enforce that agreement would have led, in Toll’s view, to the implementation of its plan B, which implied closing, obviously, the Overlander passenger service, the ...
Hon Bill English Can we take it from those answers that if Toll was going to shut most of its lines, then it was certainly not a viable business; if that is the case, why did the ...
Hon Dr MICHAEL CULLEN ... member has the figure wrong, and, second, he did not listen to the answer. In order to avoid that happening, and for Toll to remain viable without it happening, it was expecting $90 million a year in 2008-09 and probably increasing ...
Hon Dr MICHAEL CULLEN ... the track investment occurred irrespective of purchasing the rolling stock operation. He does not understand that if Toll had retained ownership of the rolling stock operation, it was looking for large—very large—and ongoing subsidies. He ...
Hon Dr MICHAEL CULLEN ... was—that is really rich indeed, when telecommunication companies make large profits without a Government subsidy. Toll could not make a bean unless it had a Government subsidy.
ONTRACK—Audit 2 Jul 2008
Hon TREVOR MALLARD ... it safe and planning for its development. The House knows that ONTRACK has never received the funding it needed from Toll, due to Toll’s failure to agree to pay its required contribution under the National Rail Access Agreement, and those ...
Hon TREVOR MALLARD ... that it did not get on with proper future planning is mainly a result of being far too focused on its battles with Toll around access fees.
Accident Compensation—Privatisation 2 Jul 2008
Hon Bill English
... for the British Parliament, but, in the second place, that is no different from our saying that because Toll Holdings gave Labour $25,000, Labour wrote it out a cheque for $900 million.
... for the British Parliament, but, in the second place, that is no different from our saying that because Toll Holdings gave Labour $25,000, Labour wrote it out a cheque for $900 million.
Rail—Reports 1 Jul 2008
Hon Dr MICHAEL CULLEN ... 15 years after New Zealand’s rail system was sold off, it is back in the hands of New Zealanders. The rail assets of Toll NZ have been transferred to the Government, and will be managed by a transition board headed by a former Prime ...
Toll Holdings—Rail and Ferry Purchase 1 Jul 2008
JOHN KEY What is the full and final cost of the Government’s purchase of Toll NZ Ltd’s rail and ferry business?
Hon Dr MICHAEL CULLEN ... weeks’ time, probably at the end of this month, with a longer-term, more aggressive investment programme. Of course, Toll was looking for some form of subsidisation of any investment that it might undertake into rolling stock in any case, ...
John Key
... of KiwiRail, and in fact the happiest people today are not the taxpayers of New Zealand but the shareholders of Toll Holdings?
... of KiwiRail, and in fact the happiest people today are not the taxpayers of New Zealand but the shareholders of Toll Holdings?
Hon Dr MICHAEL CULLEN Toll certainly needs to cash up—there is no question about that particular fact of life; there is no question the ...
Toll Holdings—Rail and Ferry Purchase 15 May 2008
Hon BILL ENGLISH ...ernment’s best estimate of the full and final cost, inclusive of any subsidies, discounts, or loans, of its purchase of Toll NZ’s rail and ferry business?
Hon Bill English ... would be that the serious dividends will not be for our economy but, in fact, have already been delivered to Toll shareholders in Australia in a several hundred million - dollar increase in the value of their company and apparently ...
Hon Bill English ... the House which is the most accurate description of his negotiations: his description “We paid more than we liked, Toll got less than they’d like—that’s the nature of any agreement”, or the comment in the Australian financial media that “T...
Hon Bill English Will the Minister make a commitment now to the transport industry that it will not allow subsidies for Toll Tranz Link, Toll’s trucking business, that are not available to every other operator?
Hon TREVOR MALLARD ... I have received a report from the same commentator saying he vehemently opposes the Government’s purchase of Toll New Zealand’s rail and ferry assets, accusing those New Zealanders who would not support it of nostalgia, but ...
Hon Bill English ... he will reveal to the public the Government’s best estimate of all the obligations it has taken on in the purchase of Toll; or should we believe much better informed commentators who say: “The Government has underestimated by far the cost ...
Toll Holdings—Rail and Ferry Purchase 13 May 2008
Hon BILL ENGLISH What is the Government’s best estimate of the final purchase price for Toll NZ’s rail and ferry business?
Hon Bill English ... public whether that figure includes the Government taking on somewhere around $100 million to $200 million of debt, Toll NZ having access to rent-free depot space in prime locations for 6 years, and, as rumoured, a special discount for ...
Hon Dr MICHAEL CULLEN ... It also has a finance lease over the Arahura. The price being paid is slightly above the per share price with which Toll NZ bought out the minority shareholders, so a premium was paid to obtain control. That share price, of course, ...
Hon Dr MICHAEL CULLEN ... it vehemently, saying it would lead to pork barrel politics. So I am sure the report that National is opposed to Toll NZ’s rail and ferry assets being bought by the Government will be followed by an expression of support—indeed, by his ...
Hon Bill English Can the Minister confirm that the reason he has not told the public the full price of the Toll NZ purchase is that although taxpayers are hurting, he has committed well over $1 billion to investment in Toll NZ—to ...
Hon Dr MICHAEL CULLEN I have many of them, almost every day, so that clearly is not true! The ridiculous thing about that statement is that Toll NZ was continuing to seek ever larger subsidies from the Government to operate a business from which it expected to ...
Income Tax—Fiscal Drag 13 May 2008
John Key
... on 1 October—or is the correct answer “none”, in the same way that it was not honest with any of them about what Toll Holdings cost to buy?
... on 1 October—or is the correct answer “none”, in the same way that it was not honest with any of them about what Toll Holdings cost to buy?
State-owned Enterprises—Government Policy on Sale or Retention 15 Apr 2008
Hon Dr MICHAEL CULLEN ... back the rail-track and a great majority of Air New Zealand, and the Government is seeking an agreement to purchase Toll NZ’s rail and ferry operations.
Rail Network—Renationalisation 5 Dec 2007
PETER BROWN
Under what circumstances would the Government fully or partly renationalise the operation of the trains run by Toll Holdings?
Under what circumstances would the Government fully or partly renationalise the operation of the trains run by Toll Holdings?
Hon Dr MICHAEL CULLEN If the result of the continuing negotiations with Toll showed that this was the only satisfactory way to achieve a strong, efficient rail transport network.
Peter Brown Notwithstanding that Toll has won awards for innovation and efficiency, does the Minister recognise that if rail were publicly owned, it could ...
Hon Dr MICHAEL CULLEN ... had a settled implementation of the National Rail Access Agreement. Within weeks, almost, of that being finalised, Toll was attempting to relitigate. Indeed, I think it is fair to say that the view around what Toll is worth is largely ...
Johnsonville Railway Corridor—ONTRACK Ownership 14 Sep 2006
Sue Kedgley If the rail operator, Toll, is not interested in running the passenger rail service the Overlander or properly marketing it, would the ...
Tourism—Overlander Rail Service 24 Aug 2006
Peter Brown Will the Minister take this opportunity of clarifying his position: will he seriously consider a proposal from Toll that requires a modest subsidy for a short period of time, providing he receives a properly constructed business plan?
Hon Dr MICHAEL CULLEN In the extraordinarily unlikely event that Toll made that offer, I would seriously consider it. What I have received is an offer of an ongoing, in perpetuity, subsidy,...
Hon Dr MICHAEL CULLEN I thank the Green Party for its offer, but it is not Toll. Toll has not made that offer.
Peter Brown ... a short period of time if he receives a properly constructed business plan from an additional operator, other than Toll?
Hon Dr MICHAEL CULLEN ... happen, the Overlander service must cease. That is part of the conditions of the current track access agreement with Toll.
Hon Dr MICHAEL CULLEN I am happy to comment further. I have not yet ruled out any further renegotiation with Toll. Mr Mike Lee of the Auckland Regional Council met with Toll today. Apparently at that meeting no progress was made, ...
Railways—Overlander Service 23 Aug 2006
Hon Dr MICHAEL CULLEN I am yet to receive any proposals for a package other than our spending as much money as Toll wants to carry on the service in the future, starting at $1.75 million a year plus $500,000. It is worth noting that ...
Peter Brown Will the Minister clarify the situation: is he not aware that Toll NZ has apparently told the local community that it is prepared to operate the service at cost—it just does not wish ...
Hon Dr MICHAEL CULLEN ... that I think would be easy to disentangle the cost of the Overlander outside the general passenger services that Toll provides. Certainly Toll would claim that it was making a loss on that route, and certainly it has asked for $1.75 ...
General Debate 23 Aug 2006
KEITH LOCKE ... over what the Government’s financial contribution might be and in what way the Government becomes involved. Toll suggests $1.75 million and a $500,000 injection to help with the rolling stock. That is not an excessive amount. It ...
Transport Safety
Transport Safety—Improvements 30 Mar 2006
Gordon Copeland Should Toll NZ have an explicit responsibility to provide clear indications, such as a headlight on at all times and several ...
Hon HARRY DUYNHOVEN It is an absolute requirement of all locomotives working on Toll Rail operations to have their headlights on at all times. Whether the horn is sounded is largely dependent on the ...