Regular readers will know that the extremely dodgy Hawkes Bay Regional Council, lead by Chairman Fenton â€śJong-Unâ€ť Wilson, have been promoting a dodgy socialist dam in Hawkes Bay.
These ratbags want the taxpayers of New Zealand and the ratepayers of Hawkes Bay to fund a dam that will make money for 150 farmers and cost the rest of us.
Now an eminent economist and former Head of Dairy Policy at the Ministry of Agriculture has pointed out exactly how dodgy the socialist dam is. The whole article is worth reading, but for those short on time there are some absolute cracker quotes
Fraser said the paper sought to find out if lessons from the â€śunmitigated disasterâ€ť that was the Clyde High Dam on the Clutha River applied to the Ruataniwha Proposal, and what those lessons were, and had they been heeded. The paper said the arguments presented in support of the Ruataniwha scheme were â€śeerily familiarâ€ť to those put forward for the Clyde Dam.
â€śThe notion that the Ruataniwha scheme was a regional, let alone, national game changer, was â€śillusionaryâ€ť given the economic evaluations commissioned by the regional councilâ€™s own investment company showed the entire project had a net present value of minus $27m when discounted at the public sector discount rate of 8% over 35 yearsâ€ť