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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  • metalnwood

    Not only would the greens have shown their hand, they would have shown how long they can play their hand.

    If kiwibank cannot afford lower home loans with it’s own capital then an investment is just a giveaway to a few lucky people because that money will run out and and KB can’t sustain it. If they couldnt afford it before, they cant sustain it after.

    The other banks will either play the game until the money runs out when they then all put up their rates again with no flow on effect or the major banks don’t bother – Just like if BP put their prices down for only a single day. It’s a puff of wind, nothing more if you cant afford to keep them down in a sustained affordable way.

  • Hard1

    If NZ Post adopted rapid acquisition of rival courier companies, then maybe a hint of the glory that is DHL could be ours. DHL is Deutsche Post AG. The corporation has 467,088 employees (FTE 421,270) in more than 220 countries and territories worldwide and generated revenue of €56.63 billion in 2010. Deutsche Post is the successor to the German mail authority Deutsche Bundespost, which was privatized in 1995.

  • oldmanNZ

    James Shaw has no sense of logic from day one. (well most or all Greens dont)

    his “I have no license because Im against fuel cars and get one when Electric is available.” make no sense as he uses transportation by fossil fuel anyway.

    this is not the only time they want to meddle in companies, they want to meddle in Power, water, and baically everything to control how you should live.

    I bet they want to heavily subsidies electric cars too.

  • Wayne Hodge

    What is disturbing is that Shaw is the supposed rational Green

    • George Carter

      The only rational greens support National

  • Mav E Rick

    For a supposedly smart guy, James Shaw shows an inept understanding of basic financial matters. For a start, $100m of new capital for a bank the size of Kiwibank is just small change in the dashboard of the car. What surprised me more was when Shaw entered Govt and he was on the Nation program along with a few other new MP’s. Lisa Owen asked all the new MP’s on the program a few basic questions about the economic situation of NZ. I remember Shaw was asked either what the current GDP was of NZ or what the OCR rate was and he was out by about 2.00%. That startled me as most kids at high school would even know this, let alone MP’s professing to know the answers to everything. Muppets!

    • Second time around

      He goes on about having once worked for PWC, but the truth is that the janitor would have picked up far more useful information from that employment than our James ever did. He makes Metiria look good, but Julie Anne Genter is the real finance spokesman.

      • hsvmaloo

        Well thats even scarier if you had watched her (Genter) in the debate after question time on Thursday. Yeah I know, I took another one for the team.

  • sheppy

    The elephant in the room could be that what has been proposed actually makes sense in the real world regardless of political affiliations. If that’s the case all those moaning against it in the usual “we didn’t think of it so we oppose it” manner, simply exposes their stupidity for all to see. Each time this happens, those opposing politicians look a little more unelectable, despite the actions of the media party. The fact that the hard core left supporters agree with the “anti everything” rhetoric doesn’t matter to the majority, as the majority can actually think for themselves

  • Ruahine

    I think the words from Cullen to Shaw might go a bit like this. ‘Eat that!!’

  • niggly

    All I can say is that (cough, cough, choke, choke) Cullen comes across as quite statesman like and intelligent, but Shaw/Greens on the other hand ….

  • JustanObserver

    And the other evening on TV, Shaw took great delight in explaining that he had run businesses and held senior management positions . . .
    .
    Clearly.

    • Bruce Rayner

      Saw that, think was same on Q&A. Thought Shaw was very devious in his reply as to how successful his own business was/is. I would nt mind betting it went broke. Must look him up in the company register

  • one for the road

    These clowns n opposition, namely Labour and Greens, should just “stick to the knitting”.. Which is basically just knitting!

  • island time

    I wonder how much Shaw would have cost the taxpayer on the Toll Rail deal – Cullen’s loss was enormous, yet maybe others may have done worse.

  • Keanne Lawrence

    Recent events have consolidated the majority of opinion about opposition MPs. They are all simply a major drain on the public purse largely due to MMP.
    While they still favour personal attacks and trivia over policy and performance they continue to rush to hypocrisy attracting little more than ridicule. Their knowledge and understanding of existing statutes and laws is abysmal yet they all have plenty of time on their hands to research any issue of importance. That is the problem since they seem hell bent on self destruction by continuous displays of stupidity.
    Shaw was trumpeted as being one with some real job experience but it turns out his level was as a spectator of the real business and subsequently only comes with assumed knowledge. A false assumption on his part.

  • WBC

    But but but, he wearing a suit and stuff. He wants to look like a grown up and everything!

    Poor we man, not only that but he has to be the sole leader of the party because the token result of their sexist rules just lurks in the background doing nothing (which is ultimately the only wise thing any of that particular commune does).

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