Yesterday Shearer asked Key: “Is it correct that under the current provisions of the bill half a dozen foreign investors could legally purchase all the listed shares?”.
Key answered “No, because the limit is 10 percent, 6 times 10 is 60, and the Government is keeping 51 percent.”
Armstrong thinks that Key slammed Shearer writing “It was the equivalent of the maths teacher handing a pupil the dunce’s hat and telling him to go and stand in the corner.”
But of course 6 can buy 49% when there’s a 10% cap. Key lied.
If you’re as thick as Armstrong, I’ll spell it out to you by analogy.
6 people can lift up to 10kgs each. Another person has 100kg of flour and is letting people take 49 kgs. Can the 6 people, between them take 49kgs? Of course they can. They can take up to 10kgs, they don’t have to take 10kgs each. Of the myriad permutations, how about: 5 take 8kgs and one takes 9 =49kgs? To be more precise, they could take 8.16kgs each on average and none would have to over 10kg. In fact, you can do it with 5 – 4 take 10kgs and one takes 9kgs, or 9.8kgs each.
Get it now, John?
So, Key lied to Parliament when he said that 6 people couldn’t buy all the shares between them. Either he is a complete moron himself and not the numbers genius we’re led to think or, more likely because only a complete fucken idiot like Armstrong would think what Key said was correct, Key knowingly misled the House. I expect the breach of privilege is already under way.
So what are we left with?
A situation where:
What a goddam embarrassment.