Does Stuart Smith understand what an asset is?

via Stuff

via Stuff

Wet Kaikoura MP Stuart Smith seems to need to learn some basic accounting terms.

As he said in that speech, this theatre is an asset to our community and the way forward is to find constructive solutions to make it work here and now, and not to walk away.

Here is a brief explanation for Stuart Smith. 

An asset is something that has value. It provides a return to its owner.

A liability is something that cannot pay its own way and has to be paid for on an ongoing basis.

The theatre is a liability. It is a huge liability. The ratepayers of Marlborough will have to fund it for its entire life because it is not commercially viable.

Heaven help National when they have MPs who want tiny communities to fund “world-class theatres” and don’t understand what an asset actually is.

And this man wants a seat around the cabinet table?


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