October 10, 2025 • 3 mins
Labour claims a promise isn't being kept - as the Government mulls selling its stake in Chorus.
Finance Minister Nicola Willis today said the Government's considering selling the 61 percent stake in the telecoms infrastructure company - now rollout of ultra-fast broadband is complete.
She says the money from a sale would be spent on hospitals and schools.
But Chris Hipkins told Heather du-Plessis Allan that they've broken their word.
He says National promised no asset sales - and this would fall into that category.
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Speaker 1 (00:00):
The government is looking to free up some cash by
selling an investment in Chorus. Now, this is money that
the government leant Chorus during the Ultra Fast broadband rollout.
That rollout is now finished, so the government's looking to
on sell that debt. But Labor says this is an
asset sale. Chris Hipkins is the Labor leader and with
us now Chippy.
Speaker 2 (00:15):
Hello, Hello, Heather.
Speaker 3 (00:17):
It's not an asset sale, though, is it.
Speaker 2 (00:19):
Well, a security is an asset, and the government said
in the National Party said they weren't going to sell
any ethics. Christopher Luxen said, I'm not interested in sir,
sales won't be happening. Now they're talking about an asset sale.
You know. I think they're trying to create some technical
distinction that doesn't exist the security the government owned our assets.
Speaker 1 (00:36):
I mean, is that that's not really fair, though, is it?
We would understand in the context of talking about asset sales,
how most of us rational voters would understand it is
that we own some sort of a company or an
entity and we're selling our stake in it. We have
no stake in Chorus. We're not selling down a shareholding.
Speaker 2 (00:53):
Well, we do have a steak in Chorus. We spent
billions of dollars rolling out the broadband and now right
at the time when we're the public is going to
reap some financial dividend from that and the form of
those securities having to be repaid, they want to privatize
those profits. So you know, the public, the New Zealand
taxpayer has already laid out the cost of building the
broadband network. That was that was what these securities have
(01:16):
arisen from. Now at the point when we actually start
to see some money coming back the other way, the
government wants to sell the air set off.
Speaker 1 (01:24):
Okay, so this is money that would be paid back
within the next five to ten years. In any case,
what's the problem with bringing it forward?
Speaker 2 (01:31):
Because the only way that it'll be profitable for somebody
to buy them is that we sell them at a discount.
Earth would we do that when that is money that
would come back to the New Zealand taxpayer and recognizition
of the fact the New Zealand text player paid for
the role out of the broody.
Speaker 3 (01:44):
Know how much of a discount was selling it at?
Speaker 2 (01:47):
Well, no, we don't, but I mean, why would anyone
buy it?
Speaker 1 (01:49):
But isn't that material I mean to be. If it's
a discount of two percent, then hoe care is let's
get the money now and build the schools we need.
If it's a discount of thirty percent, well maybe it's
a stupid idea, right, So that number is important to know,
isn't it.
Speaker 2 (02:01):
Well you'd have to weigh that up against the alternative
costs of financing the things that you were talking about, Heather,
which you know, government can actually actus other forms of
finance relatively cheaply, So this is likely to not be
the cheapest way of us financing those things like schools
and hospitals you just mentioned.
Speaker 1 (02:14):
Hey, so are you impressed with the reset from the
Maori party yesterday to make you want to have them
in your cabinet.
Speaker 2 (02:21):
I think they've got a little bit of work to do, Heather.
I think I think that they probably need to work
a little bit on their media relationships.
Speaker 3 (02:28):
Yeah, well there's that. I mean, there is that?
Speaker 1 (02:30):
What is it?
Speaker 3 (02:31):
What part of it? What happened do you think yesterday?
Speaker 2 (02:35):
Is?
Speaker 3 (02:36):
Is this a party that is a like?
Speaker 1 (02:38):
It seems like they may not be in agreement on
where they want to go with us, Like some of
them maybe want to want to, you know, tone it
down and get in cohotes with you and the others
want to remain radical.
Speaker 3 (02:47):
Is that how it looks to you.
Speaker 2 (02:49):
Look, I don't have a read on that, to be honest.
I mean, I think, as I said this morning, politicians
don't necessarily like some of the questions that we get asked.
No politician either stands in front of the media feeling like, oh,
these are great, we really enjoying myself, but I still
need to answer them. Oh, look, the hacker. I'm a
bit more relaxed about the Hucker. You know, I've seen
Hawker performed at the end of people's maiden speeches or
(03:10):
valedictory statements before. That's nothing new.
Speaker 3 (03:13):
And it was in breach of an agreement with Jerry,
wasn't it.
Speaker 2 (03:16):
I think the bigger issue there. I mean, I wasn't
in the house, so I've got to be careful commenting
on something that I didn't see myself. But I think
the bigger issue there was that she probably went from
what again went on well passed to her time allocation
and that probably may be annoyed your environment more.
Speaker 1 (03:30):
No, well, maybe it's hard to know, but no, it
seems to have been the hooker Chippy. Thanks as always
Chris Hopkins, Labor Party Leader.
Speaker 2 (03:37):
For more from Hither Duplessy Allen Drive, Listen live to
news talks. It'd be from four pm weekdays, or follow
the podcast on iHeartRadio
The government is looking to free up some cash by
selling an investment in Chorus. Now, this is money that
the government leant Chorus during the Ultra Fast broadband rollout.
That rollout is now finished, so the government's looking to
on sell that debt. But Labor says this is an
asset sale. Chris Hipkins is the Labor leader and with
us now Chippy.
Speaker 2 (00:15):
Hello, Hello, Heather.
Speaker 3 (00:17):
It's not an asset sale, though, is it.
Speaker 2 (00:19):
Well, a security is an asset, and the government said
in the National Party said they weren't going to sell
any ethics. Christopher Luxen said, I'm not interested in sir,
sales won't be happening. Now they're talking about an asset sale.
You know. I think they're trying to create some technical
distinction that doesn't exist the security the government owned our assets.
Speaker 1 (00:36):
I mean, is that that's not really fair, though, is it?
We would understand in the context of talking about asset sales,
how most of us rational voters would understand it is
that we own some sort of a company or an
entity and we're selling our stake in it. We have
no stake in Chorus. We're not selling down a shareholding.
Speaker 2 (00:53):
Well, we do have a steak in Chorus. We spent
billions of dollars rolling out the broadband and now right
at the time when we're the public is going to
reap some financial dividend from that and the form of
those securities having to be repaid, they want to privatize
those profits. So you know, the public, the New Zealand
taxpayer has already laid out the cost of building the
broadband network. That was that was what these securities have
(01:16):
arisen from. Now at the point when we actually start
to see some money coming back the other way, the
government wants to sell the air set off.
Speaker 1 (01:24):
Okay, so this is money that would be paid back
within the next five to ten years. In any case,
what's the problem with bringing it forward?
Speaker 2 (01:31):
Because the only way that it'll be profitable for somebody
to buy them is that we sell them at a discount.
Earth would we do that when that is money that
would come back to the New Zealand taxpayer and recognizition
of the fact the New Zealand text player paid for
the role out of the broody.
Speaker 3 (01:44):
Know how much of a discount was selling it at?
Speaker 2 (01:47):
Well, no, we don't, but I mean, why would anyone
buy it?
Speaker 1 (01:49):
But isn't that material I mean to be. If it's
a discount of two percent, then hoe care is let's
get the money now and build the schools we need.
If it's a discount of thirty percent, well maybe it's
a stupid idea, right, So that number is important to know,
isn't it.
Speaker 2 (02:01):
Well you'd have to weigh that up against the alternative
costs of financing the things that you were talking about, Heather,
which you know, government can actually actus other forms of
finance relatively cheaply, So this is likely to not be
the cheapest way of us financing those things like schools
and hospitals you just mentioned.
Speaker 1 (02:14):
Hey, so are you impressed with the reset from the
Maori party yesterday to make you want to have them
in your cabinet.
Speaker 2 (02:21):
I think they've got a little bit of work to do, Heather.
I think I think that they probably need to work
a little bit on their media relationships.
Speaker 3 (02:28):
Yeah, well there's that. I mean, there is that?
Speaker 1 (02:30):
What is it?
Speaker 3 (02:31):
What part of it? What happened do you think yesterday?
Speaker 2 (02:35):
Is?
Speaker 3 (02:36):
Is this a party that is a like?
Speaker 1 (02:38):
It seems like they may not be in agreement on
where they want to go with us, Like some of
them maybe want to want to, you know, tone it
down and get in cohotes with you and the others
want to remain radical.
Speaker 3 (02:47):
Is that how it looks to you.
Speaker 2 (02:49):
Look, I don't have a read on that, to be honest.
I mean, I think, as I said this morning, politicians
don't necessarily like some of the questions that we get asked.
No politician either stands in front of the media feeling like, oh,
these are great, we really enjoying myself, but I still
need to answer them. Oh, look, the hacker. I'm a
bit more relaxed about the Hucker. You know, I've seen
Hawker performed at the end of people's maiden speeches or
(03:10):
valedictory statements before. That's nothing new.
Speaker 3 (03:13):
And it was in breach of an agreement with Jerry,
wasn't it.
Speaker 2 (03:16):
I think the bigger issue there. I mean, I wasn't
in the house, so I've got to be careful commenting
on something that I didn't see myself. But I think
the bigger issue there was that she probably went from
what again went on well passed to her time allocation
and that probably may be annoyed your environment more.
Speaker 1 (03:30):
No, well, maybe it's hard to know, but no, it
seems to have been the hooker Chippy. Thanks as always
Chris Hopkins, Labor Party Leader.
Speaker 2 (03:37):
For more from Hither Duplessy Allen Drive, Listen live to
news talks. It'd be from four pm weekdays, or follow
the podcast on iHeartRadio
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