PM denies conflict of interest

Prime Minister John Key has rejected suggestions he has a conflict of interest because of owning shares in a vineyard while the Government is considering liquor law reform.

TV3 News reported tonight the blind trust in which Mr Key put his assets when he became prime minister was one of 11 shareholders in a Central Otago vineyard. Highwater Vineyard is part of Mount Michael Wines.

The report said the other investors in Highwater Vineyard owned some of the biggest supermarkets in the country and they would be concerned about liquor law reform.

Mr Key said in a statement tonight the trustees of the blind trust had full control of the management of all the assets in it.

"I am not aware of any of the assets contained in the blind trust," he said.

"I have no rights to either acquire assets, dispose of assets, or to instruct those who manage them.

"Nor am I able to be informed of what is in the trust."

He said he set up the blind trust after becoming prime minister so he would not have any conflict of interest through his investments "and that is the case because I don't know what my investments are".

Questioned by reporters earlier today, Mr Key said he owned part of a vineyard before he set up the blind trust.

"I've disposed of my assets through that process and whether I own it or not I wouldn't have a clue," he said.

Asked about the other vineyard investors, he said "I don't know those guys."

- NZPA