That ‘nice’ Mr Norman and his Labour sidekicks¬†cost this country a fair amount of money
Of all the MPs who might have asked awkward questions about National’s state asset sales programme, few would have guessed it would be the leader of the party which would have happily sold the lot.
A year to the day since the NZX debut of Meridian, the largest of the partial sales, ACT leader David Seymour delivered his first question in the House on Wednesday, with the pace of a 13-year-old giving a reading he couldn’t wait to be over.
But in asking about the rising share prices of the former state-owned electricity companies, he raised an issue which every other politician now seems unwilling to ask out loud.
Hundreds of millions of dollars have been accrued by investors since the sales, especially since start of September.
The issue deserves another public hearing, as since it became clearer that National would govern again, those who purchased the shares have seen their investments boom, as the market reassesses what they are worth under John Key.
Seymour meant to make an attack on just the Opposition for its attempts to undermine the sales through the threat of regulation, NZ Power. Instead he raised a wider point.
How much did the political folly – from both sides of the House – cost the taxpayers, who as Seymour pointed out, will have to make up the difference?
Well, we lost a cool bil in actual sale income for the government to use to, oh, I don’t know, assist with housing or child poverty,say. ¬†And all the investors that were scared away lost out on earning their share of the gains. ¬†Gains that are now going to the very institutional investors that the Green Taliban wanted to prevent getting fat at the expense of every day mum and dad investors. ¬† Read more »