Peters to Raise Questions over South Canterbury Finance

new-zealand-first-party

Tue Jan 17 2012 13:00:00 GMT+1300 (New Zealand Daylight Time)

Peters to Raise Questions over South Canterbury Finance

Tuesday, 17 January 2012, 1:31 pm
Press Release: New Zealand First Party

Rt Hon Winston Peters
Leader NZ First

17 January 2011

Peters to Raise Questions over SC Finance

New Zealand First will be closely questioning the Prime Minister and his ministers over the loss of $1.6 billion of taxpayers’ money through the government guarantee of South Canterbury Finance.

Rt Hon Winston Peters says he won’t comment on charges laid by the Serious Fraud Office because they are before the court but he says the government has to explain why the guarantee was renewed and reveal who made the decisions.

“The taxpayers are entitled to know the names of the financial wizards who decided to risk exposing them to such a huge liability. They are also entitled to know why this coverage was extended to such an alarming degree.”

Mr Peters points out that the government is carrying out a slash and burn exercise of its services, throwing thousands of people out of work, while at the same time it funds a failed finance company to the tune of $1.6 billion.

“We are not being told the full story about how the government got caught holding the bag for South Canterbury Finance. Mr Key and his ministers will be given every opportunity to do some explaining when Parliament resumes next month,” says Mr Peters.

ENDS

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