Key: tired & bereft of ideas

Written By: - Date published: 9:03 am, October 31st, 2011 - 32 comments
Categories: election 2011, john key, national, privatisation - Tags:

So, that was National’s ‘big announcement’tm? Allocating money they’ve already banked into a fund which is just an accounting fiction for capital spending that was already budgeted for.

It’s a political fraud and an insult to our intelligence to say the asset sale money be used ‘for’ special capital projects. It’s just as true to say that asset sale revenue would be used for the $1.1 billion a year that National is borrowing for tax cuts.

The other insult to our intelligence is that National still won’t admit the costs of selling assets. If we sell our assets now, they will be gone forever and we will lose their profit streams, which put hundreds of millions a year into that pot.

Notwithstanding all that, what about Key’s big promise: if we let him sell our assets, he’ll put a billion of the revenue into ‘transform’ schools over five years. Is that really so impressive? The primary and secondary education budget over the next five years will total $25 billion. They spend half a billion a year on capital investment. This comes to a grand total of $80,000 a year per school … all of which was already budgeted spending.

It’s obvious that National only whipped up this ‘Future Investment Fund’ at the last minute. It changes nothing. It means nothing. It’s not a policy, it’s an illusion of one from a party rattled by from suddenly finding itself on the back foot.

Talk about tired and bereft of ideas.

No-one’s bought it. Rather than talking about this wonderful new capital fund, National has got people talking about it’s greatest weakness: asset sales.

32 comments on “Key: tired & bereft of ideas”

  1. Craig Glen Eden 1

    Dishonest John the con the Nats have nothing left but deceit.So much for a brighter future.

  2. Jim Nald 2

    Thank you, John Key, for more bullshit.

  3. KJT 3

    Don’t you mean they have run out of bones to throw, to get back into power long enough, to complete the thefts begun in 1984.

  4. One Anonymous Bloke 4

    This is insane! Brand Key already took a major hit on the credibility front when he lied to Parliament over the downgrades. To now attempt such transparent deceit so soon afterwards, well, put it this way, to quote Fairfax media (sincere apologies): “Key is defending National’s plans to use revenue from partial asset sales to fund infrastructure projects, despite opposition criticism that it was bad economics and shonky accounting.” That’s the first paragraph of a story that’s been buried so fast its headline must be spinning 😉
    PS: they said “shonky” 😀

  5. vto 5

    I thought Key said the sale proceeds were going to be used to pay down debt?

    If he changes his mind so easily how can we trust that this current idea will stay?

    Also, re asset sale costs of a few hundred million – why get the private sector to do it at such exorbitant cost? The govt should do the sale itself and save the bulk of that cost. The usual benefits that investment banking dorks bring to such sales simply do not apply in the case of these assets.

  6. Colonial Viper 6

    John Key is National’s greatest asset. Has he already been sold off.

    • Hami Shearlie 6.1

      Assets can quickly turn into liabilities. John Key is like candy floss – looks good, but sooner or later you have had enough, can’t stand the sight of it, and more to the point, it’s bad for you!!!

    • mik e 6.2

      the power drunKey photo opurtunikey to busy being in the lime light to take care of the promises he’s failed to deliver has driven our economy onto the rocks its leaking tons of money $72billion and counting likely to exceed $100billion Just $ 20 billion for CHCH the rest is to buy your vote this year and the downside is next term of govt National will cut everything they can and leave the economy in worse condition. The secret to bringing an economy out of recession is to stimulate main street and and not queens st and the Remeuras of this country

  7. Afewknowthetruth 7

    The entire game that the global elites are playing is founded on bullshit, corruption and oppression. And the levels of all three are increasing rapidly.

    http://www.independent.co.uk/news/world/politics/europes-leaders-look-to-us-and-china-to-support-crisis-deal-2377924.html

    (The US is insolvent, of course.)

    http://www.independent.co.uk/news/uk/home-news/authorities-impatience-with-occupy-movement-grows-2377928.html

    (Apparently, Oakland is close to becoming a war zone.)

    Unfortunately, most Kiwis are still too comfortable and too apathetic to pull themselves away from their television sets and gas barbeques and do something about it all.

    ‘tired & bereft of ideas’ That applies to Labour too, of course. Labour just wants the opportunity to tweak the system as it collapses.

    To imagine that voting will make any difference is to be utterly deluded. Voting simply provides the mechanism for replacing one gang of mendacious opportunists who are slaves to the system with another gang of mendacious opportunists who are slaves to the system.

    This will all end very badly. (And that’s before we even mention peak oil and environmental collapse).

  8. ak 8

    Brilliant economics from the party of business, I’m sure he farming sector will be right behind it. Soon we’ll see thousands of dairy farmers selling 49% of their cows to buy tractors.

    • Colonial Viper 8.1

      Or more accurately to sell 49% of their pastures to buy tractors. And then have to work the whole lot and have to give 49% of the milk away to the new owners.

  9. Zaphod Beeblebrox 9

    They haven’t sold the assets yet. How do they know what they will be worth on the open market? What happens if the the share nmarket falls in 2012? Will we still get our school buildings. Will the Canterbury irrigators get their shiny new pipes?

  10. JS 10

    The Nats don’t get that schools and hospitals are not just about bricks and mortar and new paint. Investing in health and education means investing in staff and training and teaching and learning, and respect for skills and working on good relationships. Otherwise we will be left with pretty buildings but no staff. And no assets to provide a secure income stream.

    • Afewknowthetruth 10.1

      TPTB are desperate to provide more construction projects to prevent the construction sector collapsing, now that we have entered the Second Great [never-ending] Depression.

  11. prism 11

    Shonkey’s shell game for sure. The word for today – ‘prestidigitation’ from him leads to agitation from me.

  12. My comment from ‘Open Mike’ is probably more appropriate in this thread.

    To repeat, which private contractors will end up creaming the asset sale profits as part of their involvement in the ‘Future Investment Fund’ projects?

    Given National’s flagged keenness for more private involvement (PPPs, etc.) in the education, roading and health sectors, what guarantee is there that this ‘ring fenced’ fund isn’t simply being ring fenced for private profit (and, hence, over time resulting in less rather than more public assets, owned and operated by public agencies)?

  13. the sprout 13

    the colour of the tie in that image needs photoshopping

  14. Craig 14

    “Vote National for a Brighter Future’…Because the Present’s Utter Crap!

  15. One Anonymous Bloke 15

    Wtf? lol

  16. johnm 16

    When you’re following a tired bereft of ideas ideology which doesn’t require intelligence or humanity other than privatizing everything and giving tax cuts to the rich. Well Key is the man of choice having those attributes in plenty to keep the same old tired and bereft of ideas ideological BS going….He’s good sucker bait though : well groomed,smarmy, can do a good cat walk, flash $1000 buck suits, everyman’s rich man fantasy. But really he’s the wolf dressed as grandma waiting for red riding hood!

  17. You’d think Key was deliberately sabotaging his chances at re- election cos he knows from the last 3 years that he’s not up to the job. All that shit about how elections and being a politician are a lot harder than it looks.

    Well what the fuck did he expect ? Nothing is ever as easy as it looks. Just cos i seen Tony Hawk do a 1080 or Travis Pastrana double backflip doesn’t mean i can jump on a skateboard or motoX bike and pull it off just cos i got two legs, two arms and half a brain like them.

    True skill requires little effort and whats obvious is that he has no political skills of his own. Like a muppet with no hand up it’s arse, he’s just a lifeless piece of fluff.

    I say he should shit or get off the pot and let English stink it up again or let Gerry the Hut go all empire strikes back on us but for fucks sake. The man needs to grow a pair or get that operation to reverse his vasectomy cos frankly this pussy talk is fucking tedious.

  18. randal 18

    ipredict that john keys will spit the dummy before nov 26.

  19. Draco T Bastard 19

    The Dimpost get it right.

    But all this is beside the point. The funds from the asset sales are already in the bank. Treasury factored them into the budget and the PREFU – even though the assets haven’t even been sold yet. That’s how the government pays down the deficit so quickly. Now Key is spending that money a second time. So when he announces that he’s going to spend a billion dollars on a fund to transform schools, funded by the asset sales, what he’s actually saying is that he’s going to borrow an extra billion dollars to pay for his election promises. It’s the tax cuts scam – (‘we’re not borrowing for tax cuts, we’re borrowing for the spending from the shortfall from the tax cuts!’) all over again.

  20. Irascible 20

    Of course what Key didn’t say with this flip flop policy release is what he has advocated before.. that investment in the school buildings and plant should be through Private – Public “Partnerships” which are designed to rort the taxpayer even more.

  21. Infrastructure investment fund – what a half arsed attempt at spin! Trying to put an acceptable face on unpopular policy.
    Perhaps it is true – Crosby/Textor are no longer advising them or he has gone rogue with drunken outbursts of ad hoc policy.

    Why does he have to sell assets for capital upgrades?
    The man had money to do this. We gave it to him and he squandered it.
    An unnecessary bailout of SCF occasioned by his and Bill’s failure to manage the risk associated with a guarantee scheme. Even though they had been warned.
    He gave away $2 billion in tax cuts.
    In total there’s $3 Billion right there.
     
    Instead he is going to sell assets, sack public servants, under fund health, education and social services.
    The tide is going out on that nice Mr John Key.
     

  22. Descendant Of Smith 22

    MOE already has planned to replace all pre-fabricated buildings over the next 5 years or so I suspect that the new spending is likely to be the old already planned spending.

    Several schools I am aware of won’t be doing any more work on their pre-fab class-rooms in this knowledge.

    Schools are also currently having trouble getting their property plans signed off with delay after delay on these and is some cases MOE has been asking for money back from schools where it may not have been spent quickly enough.

    Examples of planned pre-fab replacement:

    http://www.wainuibeach.school.nz/assets/Newsletter/BoT-News-15-9-11.pdf

    http://www.avcol.school.nz/about/stage_two.aspx

    http://www.tenderlink.com/tenderers/2744.1/searchpages/BuildingDemolitionRemoval_closed.htm

    It would be interesting how much of this already planned spending ends up being touted as new spending.

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  • Labour’s Fatal Flaw.
     Two-Faced? Labour insiders' commitment to the neoliberal status quo puts them at odds with their party’s membership; its trade union affiliates; and a majority of Labour voters, but this only serves to strengthen the perception they have of themselves as a special elite. Among the lesser breeds, they’ll talk up a ...
    1 week ago
  • Ten reasons the Tories do NOT want an election
    There has been a lot of talk about Boris Johnson wanting an election, and he has blustered with great gusto about 'chicken' Jeremy Corbyn refusing one, but I think there are many reasons why he is secretly glad he has been refused the opportunity:The Tories are an utter rabble,tearing themselves ...
    2 weeks ago
  • Prorogation Illegal, rule Scottish judges
    Scottish appeal court judges have declared that Boris Johnson’s decision to suspend parliament in the run-up to the October Brexit deadline is unlawful. The three judges, chaired by Lord Carloway, Scotland’s most senior judge, overturned an earlier ruling that the courts did not have the powers to interfere in the prime ...
    2 weeks ago
  • Let me explain what I meant by Everyday New Zealanders
    By Simon Bridges. The following is a press release from the office of Simon Bridges, leader of The National Party. Key ora, New Zealand. Happy Maori Language Week. Look, I’m writing to you today because I want to clear something up. There’s been a lot of kerfuffle around some things ...
    The CivilianBy admin
    2 weeks ago
  • Yes, the SIS is subject to the Public Records Act
    I understand there's some stuff going round about how the SIS "was removed from the list of public offices covered by the Public Records Act in 2017". The context of course being their records derived from US torture, which will be disposed of or sealed. The good news is that ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • An evidence-based discussion of the Canadian fluoride/IQ study
    Dr. Christopher Labos and Jonathan Jarry discuss the recent Canadian fluoride/IQ research. They provide an expert analysis of the paper and its problems. Click on image to go to podcast. The critical debate about the recent ...
    2 weeks ago
  • Climate Change: Australia in denial
    Australia is burning down again, and meanwhile its natural disaster minister is denying climate change:Australia’s minister responsible for drought and natural disasters, David Littleproud, has said that he doesn’t “know if climate change is manmade”. Clarifying earlier comments that the question is “irrelevant” when considering the Coalition government’s response to ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Philippines activist speaking on the Duterte tyranny
    Auckland Philippines Solidarity is excited to host Professor Judy Taguiwalo for a speaking tour of NZ in September. She is a well-known activist in the Philippines and was a political prisoner under the Marcos dictatorship. Professor Taguiwalo briefly served as a Cabinet member under President Duterte but was forced from ...
    RedlineBy Daphna
    2 weeks ago
  • Disgust
    I have no special insights to offer on the Labour sexual assault coverup. All I have is disgust. Disgust that an organisation could fail its people so badly. Disgust that they punished the victims rather than the perpetrator. Disgust that its party hacks are apparently blaming the victims for demanding ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Speak Up for Women calls out Greens’ censorship
    This open letter to the Green Party was penned after an opinion piece by Jill Abigail, a feminist and founding member of the party, was censored by the Greens’ leadership. (Redline has reprinted her article here).The intolerance of the Green Party leaders and their acceptance of the misogyny of gender ...
    RedlineBy Daphna
    2 weeks ago
  • Member’s Day: End of Life Choice, part 3
    Today is a Member's day, and David Seymour's End of Life Choice Bill continues its slow crawl through its committee stage. They're spending the whole day on it today, though the first hour is likely to be spent on voting left over from last time. After that they'll move on ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Flight to Los Angeles turned back after passengers decide they don’t want to go anymore
    An ambitious plan to fly to Los Angeles petered out into a brief sight-seeing trip and a desire to return home and get some sleep before work tomorrow. Air New Zealand has confirmed a flight to Los Angeles last night was turned back about a quarter of the way into ...
    The CivilianBy admin
    2 weeks ago
  • Indigenous Futures: defuturing and futuring – an analytical framework for policy development?
    There appears to be consensus – by omission – that the concept of indigenous futures should be accepted at face value. So I scavenged the internet to see if I could locate an academic descriptor or a framework around how we think about it as a concept, and whether it ...
    EllipsisterBy Ellipsister
    2 weeks ago
  • Cadbury rumoured to be releasing the Pineapple Trump
    Here’s another novelty chocolate to shove in your gob, New Zealand Cadbury could be seeking to make itself great again with a rumoured new release: Pineapple Trumps, a spin on its classic chocolate-encased pineapple treat and do-it-yourself tooth remover. The global confectionery manufacturer and bumbling “before” character in an infomercial, ...
    The CivilianBy admin
    2 weeks ago
  • The coming resource war.
    During my time in the Pentagon I had the privilege of sitting down with military leaders and defence and security officials from a variety of Latin American nations. Sometimes I was present as a subordinate assistant to a senior US defence department official, sometimes as part of a delegation that ...
    KiwipoliticoBy Pablo
    2 weeks ago
  • Māori Language Week with The Civilian
    Kia ora, Aotearoa. It’s that magical time of year. Te Wiki o te Reo Māori. In English, the week that frightens talk radio. As you probably know by now, all your favourite media outlets are participating, some more successfully than others. Stuff has changed its name to Puna for the ...
    The CivilianBy admin
    2 weeks ago
  • Will Horizons act on climate change?
    Local body elections are coming up next month. And it looks like all Palmerston North candidates for Horizons (the Manawatu-Whanganui Regional Council) want to take action on climate change:Climate change is set to be a key issue in Palmerston North for the next three years if those wanting to get ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • BORA reform is stalled
    Eighteen months ago, the government promised to strengthen the Bill of Rights Act, by explicitly affirming the power of the courts to issue declarations of inconsistency and requiring Parliament to formally respond to them. So how's that going? I was curious, so I asked for all advice about the proposal. ...
    No Right TurnBy Idiot/Savant
    2 weeks ago
  • Corbyn and Brexit
    As the Brexit saga staggers on, the focus is naturally enough on the Prime Minister and his attempts to achieve Brexit “do or die”. But the role played by the Leader of the Opposition is of almost equal interest and complexity. The first problem for Jeremy Corbyn is that he ...
    Bryan GouldBy Bryan Gould
    2 weeks ago
  • A ditch for him to die in
    Last week, English Prime Minister Boris Johnson boldly declared that he would rather die be dead in a ditch than delay Brexit. Unfortunately for him, the UK parliament accepted the challenge, and promptly dug one for him. The "rebellion bill" requires him to ask for and secure yet another temporary ...
    No Right TurnBy Idiot/Savant
    2 weeks ago

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