Here we go again.
Another privatisation of a State Asset to prop up charter schools, irrigation for failed dairy intensification and the barest infrastructure investment possible.
This time it’s KiwiBank, last time it was Meridian, Genesis and Mighty River Power. ACC and NZ Super fund buying this chunk of KiwiBank does little to reinvest in KiwiBank’s strengths and sets it up for tender.
We have KiwiBank not JUST because it provides competition for the bastard privacy-abusing-nark-for-the-cops Australian Banks, we have KiwiBank because it is impossible to operate in civil society without a bank account. Why the Sweet Zombie Jesus would we want to monopolise that necessity to Australia?
Billions being sucked out of the NZ economy every year would be the outcome of privatising KiwiBank to foreign interests.
Once again Key is casually hocking off our public assets to raise funds because he has lowered the tax rates and is borrowing billions for tax cuts to the richest. In light of NZ now being a tax haven caused by Key doing nothing on foreign trusts despite warnings, flogging another bit of the country’s asset base off should have the nation in an uproar.
Key says this isn’t privatisation by stealth, but then again he also claims NZ is NOT a tax haven for the rich despite NZ being mentioned 60,000 times in the Mossack Fonseca Panama Papers.
The Emperor isn’t just naked, he’s barefaced.