I bet Cullen enjoyed kicking James Shaw

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.”   

But Cullen said Shaw’s argument, that the Government was able to direct Kiwibank, was “completely incorrect”

“Kiwibank is a 100 per cent owned subsidiary of New Zealand Post but in terms of the Companies Act and Reserve Bank requirements it must act independently in terms of its activities.

“The Government cannot direct New Zealand Post, nor through New Zealand Post can it direct Kiwibank.”

How James Shaw thinks he can become a minister when he wants to meddle in companies, which is against the law, is beyond me.

So, just to recap: we have Andrew Little wanting to ‘stiff-arm’ banks and now James Shaw who wants to meddle in the affairs of a bank.

Utterly irresponsible behaviour and clearly still unfit for government.

 

– Fairfax

 


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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.

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