New Zealand's re-elected centre-right government claimed a mandate on Sunday to push on with up to $5 billion worth of asset sales and welfare reforms and at the same time claimed that it would quickly get down to forming a new administration.
The National Party, led by former foreign exchange dealer John Key, scored 48 percent of the vote, increased its number of seats to 60 from 58 & gained the support of tiny parties to guarantee a majority in the 121-seat parliament. "It's a strong endorsement of where the Government sits, & we are confident we'll be able to build the relationships needed to go ahead with the program," National's campaign manager Steven Joyce told.
National campaigned on promises to consolidate policies of the past years & work towards economic growth by cutting debt, curbing spending, selling state assets & returning to a budget surplus by 2014/15. Ray Miller of Auckland University said National had effectively neutralized its largest weakness the unpopular asset sales, slated to raise NZ$5 billion to NZ$7 billion.
"They got the owner out early, they sold it in positive terms & in the finish, while it was still a negative, it was owner among lots of & not an overriding," they said. National designs to sell minority stakes in state-owned power energy companies & further reduce the stake in Air New Zealand. Key has promised local tiny investors will have preference in share sales, with a ten percent cap likely on how much any single investor can hold.
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