Michael Wood has claimed he regretted his ' serious error' in hanging on to his Auckland Airport shares.
The under-fire Minister sold the airport shares for the sum of $16,000 and donated them to the Anglican Trust charity.
NZ Herald deputy political editor Thomas Coughlan says Michael Wood will likely face punishment- in the form of Cabinet demotion.
"Possibly not to the bottom of Cabinet, but a demotion of some kind. Just to say- you can't do this, if you do stuff like this, there will be a punishment."
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