By AUDREY YOUNG political reporter
MPs on the finance select committee will hold an inquiry into shonky investment schemes but Act MP Rodney Hide says it is a waste of time that is designed to try to embarrass him.
Mr Hide spoke at a 1999 seminar in Fiji run by an investment scheme that turned bad.
Up to 300 New Zealanders are thought to have lost $10 million.
Mr Hide said he has been attacked by Government MPs in debates for months over what was a standard speech he would have given to Rotary.
"It is a bit poor to use a select committee inquiry process to try to get at a member of Parliament. It's a bit desperate too.
"I can't see what the net benefit to New Zealand by this committee inquiry is going to be.
"They've given no good reason for undertaking this inquiry other than to somehow embarrass me but I don't know how they are going to embarrass me. I haven't done anything wrong."
Labour, New Zealand First and United back the inquiry, which was confirmed yesterday when the committee met. National opposes it.
Promoting the inquiry strongly have been Labour MPs Clayton Cosgrove and John Tamihere, both of whom have attacked Mr Hide in parliamentary debates over the Fiji speech and both of whom are on the finance and expenditure select committee.
The official title is an "inquiry into the revenue effects of fraudulent investment schemes."
Mr Hide, who is also on the committee, laughed at a suggestion that his fellow MPs might ask him to give evidence.
Committee chairman and Labour MP Mark Peck said it was too early to say whether Mr Hide would be called.
He said the Fiji speech might have been the catalyst for the initial interest but "this thing has taken on legs of its own."
The committee has asked for briefings from the Serious Fraud Office, Inland Revenue Department and the Securities Commission.
United Future leader Peter Dunne said the inquiry might be seen as pay-back to Mr Hide - who has led numerous attacks on the Government - but it was not.
"It is time Parliament took a stand. I think the biggest impact of an inquiry will be to scare off a lot of the most shonky operators.
"Anything we can do to either destroy the credibility of those schemes in the eyes of the public or to ensure, if there are legislative steps that need to be taken by way of tax changes, then we should look at it. I'm not interested in a personal witch-hunt."
Meanwhile, a dispute is brewing within the Labour caucus over whether any Opposition MPs have made attempts to shut-down the inquiry.
It is alleged that after the dinner for the Japanese Prime Minister last week pressure was put on a group of Labour MPs, with the promise of counter-attacks on specific Government MPs if the inquiry proceeded.
It is understood a complaint to the Speaker alleging pressure has been drafted. But it has not been sent because there is now some disagreement among Labour MPs as to whether what was said could be construed as a threat or usual cross-party banter.
Hide refuses to be embarrassed
AdvertisementAdvertise with NZME.