Order Paper and questions

Questions for written answer

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Date:
19 March 2012
Subject
Economics and Industry

1733 (2012). Dr Russel Norman to the Minister of Finance (19 Mar 2012): What is the value of the contract with Senate Communications to manage the communications and public relations services associated with the Mixed Ownership Model share floats?
Hon Bill English (Minister of Finance) replied: While the Senate Communications contract is for the full programme of Mixed Ownership Model share floats, a capped price was negotiated for the first IPO (Mighty River Power). That price is commercially sensitive, given the need for further negotiation with Senate and other suppliers after the first IPO. The Treasury is managing the contracts, and costs for all suppliers and contractors across the programme are expected to be around 2 per cent of total programme proceeds, which is low by market standards.