And so the weasel-words start

Just three days old and Labour’s new privatisation policy is in tatters.

Labour’s finance spokesman David Cunliffe says his party’s plans to allow private investment in state-owned enterprises’ subsidiaries would not extend to NZ Post-owned Kiwibank.

Mr Cunliffe said last week that if Labour returned to Government it would increase the state’s capital investment in growth-enhancing projects through partnerships with business, iwi, local government and the New Zealand Superannuation Fund.

“We can unleash state-owned enterprises to create and grow new subsidiaries with private partners and shareholders,” he said.

But he drew the line at private investment in existing state-owned enterprises or their subsidiaries, including Kiwibank.

“We’ve made clear that that policy would only apply to subsidiaries and we’ve also made clear that we plan to build Kiwibank up as a publicly owned bank.

“So there is no plan, and we would exclude the possibility of diluting equity in Kiwibank.”

What a bunch of no dicks. Clearly the total emasculation of Labour under Helen Clark has continued. I just can’t believe they’ve released a policy, one which clearly includes Kiwibank and now they are weaseling out of the policy.

I guess that means that Silent T can’t even count on his own vote for the leadership of Labour.

That makes the policy worse than useless. It makes Labour worse than useless.

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