25.9.08

Rt Hon Helen Clark
Prime Minister
Parliament House
Wellington

Dear Madam,

In response to your recent invitation (herewith) I enclose Dr. Cullen's final response to our recent concerns—on your behalf.

In citing our example of Vector and the NZ Superannuation Fund he (characteristically) fails to distinguish between companies which must be publicly owned, and should not be even partly privately owned. The principle, not the mechanics, is important, and still eludes him.

The Auckland subscribers to Vector are currently due for another annual dividend of $320.00. In Wellington dividends will now go off-shore to the further detriment of our already parlous Current A/C Deficit.

Moreover the Wellington sale will be precedent for ruthless exploitation by the Opposition in Government, as part of their disclosed agenda.

When in Opposition the present Government vociferously denounced state asset sales. In Government its performance has been minor, sporadic, unprincipled and ambivalent. How indictable performance on this fundamental is supposed to inspire trust is not immediately clear.

Also enclosed is reference to the widely acclaimed "Silver Bullet" for your information.

Yours faithfully,

R D Keall
Hon. Secretary/Director