In a previous post at The Standard I did a wee bit of math and came to the conclusion that National has already made $5.26 billion worth of spending promises out of the Future Investment Fund, the not-actually-a-fund chunk of cash they plan to make from selling taxpayer-built infrastructure to their mates.
Things have developed.
First, there’s this post from James, noting that the sales process itself has already cost $124 million. And this estimate from the Greens of the cost of the Government’s interest-free loans to Meridian investors.
And then there’s this acknowledgement from John Key that the original five-to-seven billion dollar estimate for the profits from the sales are pretty much shot to hell.
So now we’re left with:
Costs we’re still not including:
So at the most generous estimate?
We’re already in the hole for four hundred and thirty-nine million dollars. Taking the promised spending and costs to date away from the actual funds received?
Three point three billion dollars in the red.
That’s the sound fiscal management of the National Party.