KEY POINTS:
Finance Minister Michael Cullen must confirm or reject reports the Government is paying $200 million more for the railways than it announced last week, the National Party says.
Dr Cullen and Prime Minister Helen Clark say they can't comment on reports that the Government has taken on a $200 million debt as well as paying Toll Holdings $665m for the railways.
National's finance spokesman, Bill English, is demanding full disclosure.
"Dr Cullen has preliminary figures about how much it will cost the taxpayer to upgrade the rolling stock," he said today.
"He should also confirm or reject speculation about a hidden $200 million loan."
The loan was revealed by the Sunday Star-Times. It is understood to have been given to Toll New Zealand - which owned the railways - by its Australian parent company, and the Government has apparently assumed liability for it.
Earlier today Miss Clark said she could not confirm or deny the reports.
"That's an allegation that's been made," she said on TV One's Breakfast programme.
"There's still commercial and confidential negotiations going on. It's simply not possible for me to comment."
Dr Cullen's office previously refused to comment and said people would have to wait until details of the deal were released.
Mr English said the public would not forgive Dr Cullen if he had "forgotten" to tell them about the loan commitment when the buy back was announced.
"As times get tougher, the public must be able to trust the finance minister to tell it the way it is, warts and all," he said.
"If the speculation is correct, and Dr Cullen is committing the taxpayer to repaying another $200 million loan to Toll Australia, that would put the Aussie company's profit on the deal at closer to the half billion dollar mark."
- NZPA
