Key strips assets AND values
Law won't give Kiwis first rights to shares
There will be no legal requirement for Kiwis to have first rights to the shares in state assets floated by the Government.
Legislation to establish the new "mixed ownership model" was introduced to Parliament last night.
The "corporate responsibility" clauses governing state-owned enterprises were dropped for the new companies and the law did not include a guarantee that New Zealand investors would have priority to invest.
The National Party has always promised it would put Kiwi investors "at the front of the queue" when it sold down shares in four energy companies and Air New Zealand.
...private investors will be free of all those terrible laws that attempt to reign in the greed of private corporations, it's as if all the wins of the past have been wiped clean by Key. The second our assets are for sale, they will be snapped up by overseas investors who will crank up the cost of power and we will send our money overseas. The inevitability of this stupidity is Iraq-esk.
The insult to injury is that the only people wealthy enough to afford the shares are the same ones National borrowed a billion dollars in tax cuts for, to hold up the 51% NZ ownership we would be forced to buy shares and proceeds of these assets will go to a $400 million irrigation scheme for bloody farmers! Why are we subsidizing farmers, the wealthy and speculative investors?
We are adopting more Milton Friedman free market dogma to counter a global economic crises caused by that same Milton Friedman free market dogma.
Hashtag ideological fuckwitedness.