John Key's Trusts are as blind as an eagle with night vision goggles
Labour says Key broke asset rules
Labour MP Pete Hodgson will lodge a breach of privilege complaint against Prime Minister John Key today, alleging he misled the House over claims that he could not know what assets his "blind trust" held. In Parliament yesterday, Mr Key agreed he did not know, and could not know, what was in his Aldgate Trust, listed in the MPs' register of pecuniary interests. The Cabinet Manual recommends the use of blind trusts to ensure a minister can never be sure what his holdings are at any given time so there can be no conflict of interest. But Mr Hodgson said investigations by Labour showed Mr Key's assets began to be transferred to a company called Whitechapel Ltd shortly after the 2008 election. That included his shares in Dairy Investment Fund Ltd, an interest in Highwater Vineyard in Central Otago and – later – a property company Earl of Auckland. Mr Key gave away signed bottles of "J K" wine last Christmas with Highwater on the label. Mr Hodgson said it was easy for Mr Key to know he still owned those assets because they would show up in a search of Whitechapel at the Companies' Office register. It was clearly a vehicle used by the trust managers to manage Mr Key's assets. "Whitechapel happens to be one London subway station away from his blind trust, Aldgate."
John Key's Trusts are as blind as an eagle with night vision goggles - come on - this company he's set up knows everything and it's not really clear he doesn't know what they know. The PM not knowing how his assets will be impacted by the policy he is passing isn't just an old fashioned pretense between gentlemen - it's a crucial part of our democratic political protections!
But Mr Hodgson said he would complain to Speaker Lockwood Smith. "It is almost certain Mr Key has misled Parliament by claiming his blind trust is indeed blind. While it is blind to the public, it is not at all blind to Mr Key himself."
Every politician knew what they put into their blind trust, but then lost information about what was in it. "Except Mr Key ... can find out any day of the week if he owns shares in this or that company."
Yes and Mr Key would never benefit from insider trading the way he did when he made a killing against our currency from insider trading.
Merchant Bankers don't change their spots.