Prebble invokes Labour values

Press, 15 April 1988, Page 1

Prebble invokes Labour values

Labour’s traditional values were invoked yesterday by the Minister for State-Owned Enterprises, Mr Prebble, to justify privatisation.

He said that the Government’s trading enterprises would provide dividends to help meet social commitments. "However, the dividends on their own are not enough to look after the poor and the weak in

the way New Zealanders expect us to as well as getting rid of our debt.

"That is why we have embarked on the deliberate policy of selling certain businesses to retire debt and reduce the crippling burden being carried by New Zealand taxpayers.” Privatisation has recently been condemned by party critics as contrary to its policy and philo-

sophy, but Mr Prebble said that the Government had a choice between retaining money-hungry businesses or educating children, looking [ after the elderly, and caring for the sick.

“This Government’s priority is to help those in need.”

If Labour was genuine in its traditional concern for the less well-off, corporatisation and debt repayment “by denationalising

certain [businesses where Government involvement ;is no longer necessary” had jto continue. j [ j Mr Rrebble, speaking at the formal asset-transfer tojElectricorp, - described corporatisation as a brilliant,success. [ In a period of only qne year major loss-showing departments had been turned round Into efficient and profitable concerns.