Vernon Small points out the obvious.
Perhaps the oddest element of the Budget is the first round allocation of over $500m from the proceeds of the planned asset sales through the so called Future Investment Fund.
Almost half – $250m – goes to KiwiRail. Not so much an investment in the future, as a way to pay for an underfunded loss-making liability from the past … paid for by the sale of a profitable stake in an energy company.
Please make Michael Cullen chair of Kiwirail. He was the dopey bastard who bought it, so he should have to run it.