Wood didn’t sell shares despite six reminders from Cabinet Office
Stuff reports:
Suspended transport minister Michael Wood was asked several times about his shares in Auckland Airport, Prime Minister Chris Hipkins says.
When asked later about how many times the Cabinet office had checked whether Wood had divested the shares, Hipkins said, “probably somewhere around half a dozen”.
This is beyond weird. He told the Cabinet Office in 2020 he would sell the shares and two and a half years later he hasn’t, despite six reminders from them. When I worked in the PMs Office, the word of the Cabinet Office was akin to holy scripture. If they said something needed doing, you did it promptly. I could understand he took a month to do it, or even three months. But ignoring the Cabinet Office for 2.5 years really calls his credibility into question.
I can’t fathom how you can be the Minister of Transport, pushing a $29 billion light rail project to Auckland Airport, and not get around to selling the shares despite promising the Cabinet Office you would over a period of two and a half years.
Here’s the timeframe, as I understand it.
- 1998: Auckland Airport is partially privatised by National and 17 year Young Labour member (and future President) Michael Wood buys shares in it while marching in the Hikoi of Hope against inequality!
- Dec 2016: Wood elected to Parliament
- Feb 2017: Wood submits 2016/17 Pecuniary Interest Declaration and doesn’t list shares
- Feb 2018: Wood submits 2016/17 Pecuniary Interest Declaration and doesn’t list shares
- Feb 2019: Wood submits 2016/17 Pecuniary Interest Declaration and doesn’t list shares
- Feb 2020: Wood submits 2016/17 Pecuniary Interest Declaration and doesn’t list shares
- Nov 2020: Wood becomes Minister of Transport and tells Cabinet Office about the shares and promises to sell them
- Feb 2021: Wood submits 2016/17 Pecuniary Interest Declaration and doesn’t list shares
- Feb 2022: Wood submits 2016/17 Pecuniary Interest Declaration and finally lists shares
- May 2023: Wood still hasn’t sold shares despite Cabinet Office six times reminding him about it
One key aspect is that he knew he owned the shares in November 2020 as he told the Cabinet Office about them, yet three months later he again files a declaration that omits mention of the shares.