The Nats say they won’t sell more than 49% of our energy companies and AirNZ. As if that’s a good thing. As if it doesn’t carve a $100m per year hole in the budget. But, it turns out its worse than that. The Greens have discovered that every power station in the country is a wholly-owned subsidiary. 93 subsidiaries in all that own all the actual valuable stuff.
After privatisation, there will be nothing to stop them being flogged off one by one, and every incentive for the boards to do so to meet the profit motives of foreign buyers. It’s a formula for classic asset stripping, leaving a hollowed out companies in 51% public ownership that doesn’t actually own the real assets.
Like Clayton Cosgrove says, we’re told we’re ‘just’ selling half the horse but, actually, the rest will go bit by bit til we’re left holding nothing but the saddle.
But we can stop this. Download the Keep Our Assets referendum petition. Sign it. Get everyone you know to sign it, and get it back in (that’s the really important part!). Volunteer through the Greens and Labour to help more with the big push for 300,000+ signatures.