Sir Michael Cullen must have enjoyed himself giving James Shaw a kick in the slats.
Green Party co-leader James Shaw said the move opened the door to partial privatisation.
“This deal makes it harder for the Government to use Kiwibank to drive competition in the banking sector, as the Green Party announced we’d do, because the Government can’t direct the Super and ACC funds in the way it could have directed Kiwibank,” he said.
The Greens announced last week they would inject $100m of capital into the bank, and allow it to keep more of its profits to foster a faster expansion.
“The fact is the Government forced Kiwibank’s hand and today’s announcement will make it easier than it was before to move Kiwibank into private ownership.” Read more »