Labour & Greens $212M Kiwisaver destruction

Labour and the Greens have helped destroy $212M of mum and dad investors wealth overnight with one policy announcement.


Yesterday before the announcement shares in Contact Energy, which are held by many Kiwisavers and individual investors were trading at $5.75. By the close of trading they had shed 4.5%….$212.6 million in value.

It is economic vandalism like we have never seen before. 

Labour brought in Kiwisaver and now they seem intent on destroying the retirement savings of Kiwi workers.

Russel Norman and David Shearer should really be on bended knees asking for forgiveness.

Any Kiwi who has a Kiwisaver account that had invested in Contact Energy is now $212.6 million poorer for it.

The serious worry though is what will they seek to control next?

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.