5. Hon DAVID CUNLIFFE (Labour—New Lynn) Link to this
to the Minister of Finance
What is his current best estimate of the cost of the sale of State-owned assets?
Hon BILL ENGLISH (Minister of Finance) Link to this
If the member is referring to the planned sale of a minority stake in four State-owned energy companies to New Zealand investors, subject to voters’ endorsement in an election, I do not have a firm estimate at this very early stage. However, I can say that the Government intends to use its buying power in a market where there are plenty of organisations that seem to be willing to assist in this process and not many other opportunities for them to sell their services. We expect to keep a very tight rein on costs.
Hon David Cunliffe Link to this
Has the process of selecting commercial advisers or other assistance for the sale process commenced; if so, what fees and costs are envisaged as part of this advice?
I am advised that a process has begun to get the necessary expertise. One thing that has become clear is that the Government’s intention to sell shares to Kiwi mums and dads is a bit more expensive than a one-off sale to one buyer. But, as I said, the Government will use its buying power to keep the fees as low as possible.