Government meddling with shareholder wealth

Airport recommendation caught Government by surprise – 05 Mar 2008 – NZ Herald: New Zealand National news

Labour has proven itself negligent in protecting private property rights, in fact negligent is being kind, the reality is they enjoy stealing or at least abrogating private property rights.

The latest invasion and meddling in the rights of private citizens is their change to prevent shareholders enjoying the fruits of their investment by nobbling the CPP AIAL bid.

The Government did not move sooner to nobble the sale of 40 per cent of Auckland International Airport to a Canadian pension fund because it didn’t believe the sale would go ahead, the Herald understands.

The airport company’s board recommended on February 25 that shareholders accept the Canadian Pension Plan Investment Board’s offer.

At that point, the Government started thinking of ways to try to stop the deal.

That action alone will suffer the rule of unintended consequences and Cullen will wonder where all the foreign capital went as it abandons a country where the government acts little different to a third world dictatorship in changes rules at its whim.

Where does this lead? Well for one the money that the government thought it was going to get to help fund PPP roading projects will evaporate. Who will fund roads when the government can declare them to be “strategically important infrastructure on sensitive land” and effectively nationalise an asset with out actually paying for it?

This is nothing more than stump politics and a desperate attempt to divert attention from the rapidly expanding HBDHB scandal along with yet another dramatic assault on Mum & Dad investors who have invested in AIAL.