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Minister needs to do his homework

Nathan Guy needs to do his homework, Labour’s Primary Industries spokesperson Damien O’Connor says.

“Answering questions in Parliament today on the dairy sector, the Primary Industries Minister denied John Key wants to float Fonterra.

“However, the Prime Minister has previously stated during debates around restructuring our biggest company that it would be “great to have Fonterra as a listed company”.

“Dairy farmers throughout New Zealand are currently frustrated by the low pay-out from their co-operative company. Many are concerned that Fonterra has been too busy focusing on satisfying the demands of its investors rather than meeting the needs of farmer supplier shareholders.

“This company’s performance is vital for our economy and the National Government has been determined to sell and float assets including Fonterra at the expense of our farmers.

“I am reminding Nathan Guy to put the interests of New Zealand farmers ahead of foreign investors,” Damien O’Connor says.