I/S at No Right Turn had several good posts up yesterday, here’s one of them:
If the entire float earned $5 billion and 20 per cent of investors were ‘mum and dads’ the total cost would be $60m based on an Australian model, he said.“$60m for the entire programme. So it’s $60m, not a billion, three, or whatever ridiculous numbers are in the paper this morning all those numbers are wrong.”
(Emphasis added)It turns out that he was pulling those numbers out of his arse. An OIA request through FYI, the public OIA site, has revealed that the Prime Minister “was not provided with any specific advice” on the costs of his bonus scheme (it also claims that he didn’t say what he’s on the record as saying – the sort of transparent nonsense you get when you leave spindoctors to write your responses). So, faced with media questions, he made numbers up to defend his case.
And we’re supposed to take National seriously as economic managers? Sorry, but I’d prefer someone honest, who bothered to ask for advice before making a decision.