Oh boy, here we go…
Government’s iRex ferry cancellation costed at $300 million – for now
New documents reveal the coalition has set aside $300 million to cover broken infrastructure contracts and a break-fee with Hyundai, after the government ended a contract with the Korean company to build two new Interislander ferries.
The Cabinet paper was released by Treasury just half an hour after Finance Minister Nicola Willis had repeatedly refused to confirm that figure to reporters.
The broken contracts for associated infrastructure costs – for example, port upgrades – have been resolved, but the exact amount to be paid to Hyundai is still being negotiated, which means the contingency fund of $300m set aside may not be enough to cover all the costs.
Willis also said she did not know how much the cost of two new ferries will be, as a new contract hasn’t yet been signed.
…FFS!
TDB warned this cost could blow out to $500million and we have confirmation that will be the case, the $300million cost is only if Winston cuts a deal with Hyundai!
I will not allow the Right to lecture us on Economic mismanagement when Willis amputated the IRex Ferry deal during a tantrum they will cost us over a billion!
The Right don”t get to bring up light rail or that bloody bike lane over the bridge after watching Willis needlessly butcher NZs transport links just to look tough.
The IRex deal was great deal that came with a necessary upgrade of the terminals, National wanting to look tough made a knee jerk reaction, killed the deal and the killing of the deal is going to blow the costs out.
We will end up with worse ships for greater cost.
That is so incredibly stupid.
Even you most hateful redneck cracker Right Wingers know this is a bullsit decision, but you – JUST LIKE NICOLA will never back down.
Why?
Your fucking pride.
Nicola and the feral right are so caught up in personalising the culture war, they can never ever admit they are wrong and so will push ahead with fucked up decisions even if it damages all it touches.
The Toxic Right alongside this Government have reached a level of hubris in barely 1 year that it usually take 6 years in power to generate.
This makes the show down between NZF and ACT when Winston releases his plan this month on the replacement Ferries so much more intense.
Increasingly having independent opinion in a mainstream media environment which mostly echo one another has become more important than ever, so if you value having an independent voice – please donate here.
Even worse, what do the Koreans think of the governments ethics, lack of respect and appalling business practices?
You can only say that if you know what the final cost of the alternative is known.
Your fucking pride.
Yup pretty fucked alright – Labour / Greens / TPM coalition would even be worse if you can possibly imagine anything worse.
Except there was a Ferry deal in place and from what we know now it was a quite a good deal.
The new CEO has stood by while one of the staff lost a $1billion. No one lost their job. How competent was the performance review?
What we’ve got now.
Wow how biased are you James? But alas the right wing people on this site are incapable of thought beyond their bias.
Your fucking pride.
Is that the best your got J Brown scaremongering these parties have worked together before and I believe they can do so again.
It’s really embarrassing but it’s part of the movement of right wing economic thinking – get in and shake things up ‘new CEO or CFO’ mentality. The cut too much and then hire back later approach – ala Elon.
Long term, multi generational infrastructure requires a different view of the world and the economy.
I think the final bill for 2 smaller ferries – without new infrastructure – could be well over $1 billion when all is said and done. And then what happens to the aging ports on either end – do they just stay as they are? What will the final cost be (in comparison to $3 billion cancelled project) when new and from scratch port changes are added in? Let me chuck out a prediction now somewhere between $5 and $6 billion.
How can you say they saved 2 billion .The new boats have not been delivered yet have they and new terminals will still be needed and the ordered boats would be here next year but now we have to wait another 4 years at least .What is the price for the two corolla boats that will halve capacity .They will have to do 3 trips a day to match the old tubs we have now ,that each corolla so how much will that cost in extra fuel and wages .
Really?
Yes Bob. A.number of right wing economists don’t believe her numbers because she is at best a bullshitter. You can’t actually point to anything she has actually accomplished unless it’s more unemployment or more debt that has not actually been used for anything. “ I have delivered” turned out to be a 300 million dollar penalty with no solution.
Does Nicola have children? Him/her/them? Do they like a bundle of marmite sandwiches thrust at them for all their lunch at school, if they are lucky? Would $300 million pay for school lunches and some comforts for people forced to live in motel rooms apparently for life, if they are lucky? Questions that don’t need answers – they were just rhetorical. Look up the word if you don’t know what it means. It’s useful to understand and think on as you read political pronouncements for and against whatever.
Her kids are probably tucked up in a cosy private school or the nanny gets them off each morning because the kids are too ashamed to be seen with her now .If i was one of them I would change my name .
Bob the first popping up and down like a target at a shooting range fair sideshow!
Much like Trump eh one day he may get hit
Wait a minute! what is this woman trained in. Let me guess, a tax cheat lawyer, same as the big girl Judith Collins. Can’t we get rid of these weasels.
Comments are closed.