Finance: Greens reveal asset sale costs

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The Green Party has pledged to keep tabs on how much is being spent in the process of selling off the country's assets.

Noting the sale of Contact Energy in the late 1990s cost the New Zealand taxpayer almost $40 million, Green party co-leader Dr Russel Norman says New Zealanders deserve to know how much is being spent this time around.

The party's website shows a running tally of information gathered for the public to keep track of the anticipated $120 million to be spent on National's asset sales program.

"The public deserve to know exactly who will gain from the sale of our state owned assets and we will be doing our best to provide them with this information," says Dr
Norman.

Following parliamentary questions and Official Information Act requests, the party claims to date $892, 000 has been spent on public relations and advertising alone.

Dr Norman notes this amount has been racked up prior to the commencement of a proper advertising campaign.

"The recipients of this largesse will be investment banks, advertising agencies and PR firms . . . worse than this though is the long term cost to our economy of the loss of
hundreds of millions of dollars of dividends that will happen through selling off our electricity generating assets."