National plans to privatise Kiwibank

by frog

In an exclusive scoop just televised on TV3 News, a recording of Bill English from today’s conference revealed that Kiwibank is definitely one SOE heading for the chop. Possibly paraphrased:

Anonymous: Will you get rid of Kiwibank?

Bill English:   We will eventually, but not yet.

This is consistent with the Nat’s policy of not privatising within the first three years of their government. (Cue the Tui advertisement) The leopard has not changed his spots. National also announced that they will be borrowing to pay for tax cuts. Another fine example of forward thinking. Just when we are about to formally declare a recession, lets borrow more money for things we don’t need, (read roads and tax cuts), and saddle the citizens with more debt than they are already labouring under.

The logic is that because of the international credit crunch, individual Kiwis cannot continue borrowing against their depreciating houses in order to prop up the economy. Therefore, we should use the government’s good credit rating to borrow more, give it to the taxpayers in order to spend and prop up the tettering economy, and then charge them more for it in taxes later, with interest. Better yet, let’s charge our grandchildren for the tax cuts we get today!

If the government was going to borrow money for infrastructure we actually needed and in order to creat jobs at a time of recession, I would have less problem with it. Borrowing to buy lollies in order to buy an election is foolhardy in the extreme. At least Labour has the decency to take the money off the very people they are going to give it back to in their election lolly scramble. National is stealing candy from our babies in order to give it to their parents. And we Greens get vilified for wanting to tax the heavy polluters and give every Kiwi a tax break on the bottom of the income band! Go figure.

frog says

Published in Campaign | Economy, Work, & Welfare by frog on Sun, August 3rd, 2008   

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