Cullen Cuts Out Kiwi Mums And Dads

Labour will cut out ordinary New Zealanders from investing in government owned businesses, State Owned Enterprises Minister Tony Ryall said today.

"In a speech this morning, Labour's finance spokesman Michael Cullen said that he would bring an end to people's capitalism:

"I have to tell you there will be no more opportunities for investment in purchasing state enterprises since no more will be sold." : speech to Armstrong Jones Educational Workshop, 19.11.98 -- attached)
"Just as New Zealanders are embracing the opportunity to buy shares in government businesses, Labour is saying that it doesn't want to give the public a look in.

"The broad-based demand for Capital Properties New Zealand shares confirms there is strong public support for the new and inclusive approach this government has taken to asset sales.

"Over 100,000 applications for shares were received from the public during the Government's first two share floats.

"National has found the 'third way' to sell government businesses and the public likes it.

"What I find remarkable is that while Tony Blair used Labour Party conferences to bring his party to the centre and remove 'ownership of the means of production' from its manifesto prior to the 1997 UK general election, Helen Clark and Michael Cullen are dragging the New Zealand Labour Party further to the left.

"Mr Cullen's policy announcement on privatisation puts Labour at odds with centre-left governments in Austria, Belgium, Britain, Denmark, Finland, France, Greece, Italy, The Netherlands and Portugal whose policies support privatisation." (see attached table from The Economist, 3.9.98)