ISSUE
Friday, August 15, 2025
Volume 16 . Issue 72
John Key is very much a man alone in the Chorus saga, steadfastly insisting the company will go broke, despite the CEO and two stock exchanges saying the opposite, says Labour Leader David Cunliffe.
“John Key needs to back down and admit he overstepped the mark. Chorus isn’t about to go broke. The copper tax isn’t needed to save Chorus from insolvency. Everyone knows this, including the Chorus CEO Mark Ratcliffe and the stock exchanges.
“The Prime Minister claims he has evidence from officials and other sources to back up his statement. If he does he should front with it. He is damaging his own credibility and causing worry to people who hold Chorus shares.
“The only way John Key can be right is if he has information not available to the stock exchange. That would put Chorus in a difficult position and is unlikely to be true. The real truth is he was trying to justify the corporate welfare and crony capitalism that is the copper tax.
“New Zealanders don’t want their Prime Minister to exaggerate to back up dodgy policy. He is becoming more out of touch by the day.
“New Zealanders realise that John Key was bluffing. It’s one thing to bluff the markets when you are a trader, it’s another thing to play fast and loose with the Securities Act when you are Prime Minister. He needs to lay his cards on the table,” David Cunliffe says.
John Key is very much a man alone in the Chorus saga, steadfastly insisting the company will go broke, despite the CEO and two stock exchanges saying the opposite, says Labour Leader David Cunliffe. “John Key needs to back down and admit he overstepped the mark. Chorus isn’t about to go broke....
John Key is very much a man alone in the Chorus saga, steadfastly insisting the company will go broke, despite the CEO and two stock exchanges saying the opposite, says Labour Leader David Cunliffe.
“John Key needs to back down and admit he overstepped the mark. Chorus isn’t about to go broke. The copper tax isn’t needed to save Chorus from insolvency. Everyone knows this, including the Chorus CEO Mark Ratcliffe and the stock exchanges.
“The Prime Minister claims he has evidence from officials and other sources to back up his statement. If he does he should front with it. He is damaging his own credibility and causing worry to people who hold Chorus shares.
“The only way John Key can be right is if he has information not available to the stock exchange. That would put Chorus in a difficult position and is unlikely to be true. The real truth is he was trying to justify the corporate welfare and crony capitalism that is the copper tax.
“New Zealanders don’t want their Prime Minister to exaggerate to back up dodgy policy. He is becoming more out of touch by the day.
“New Zealanders realise that John Key was bluffing. It’s one thing to bluff the markets when you are a trader, it’s another thing to play fast and loose with the Securities Act when you are Prime Minister. He needs to lay his cards on the table,” David Cunliffe says.
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