The brains deficit

• r0b
• 14 years ago
• Categories: ACC, national, superannuation
• Tags: EQC

A headline on Newsroom caught my eye a couple of days back (see also Treasury):

Deficit Falls Further – The Government’s deficit has decreased further, with the Crown’s operating balance for the nine months to March 31 coming in $2,006 million smaller than forecast at $1,327 million…

Nice to read some good news in these difficult times I thought. How did the Nats manage it? Are we seeing signs of creative thinking and competent management from Government at last? Reading on, the quote continues:

…mainly due to gains on the Crown’s investment portfolios held by the NZS Fund, ACC and EQC. TREASURY

Well that explains it. Creative thinking and competent management indeed, from Labour governments (2001, 1974, 1947). Still working for the good of the country, and helping to make the current crowd look a little less dismal.

So remind me again, what’s National’s position on NZ Super (the Cullen fund)? What’s National’s position on ACC? How long before they decide to flog off another Labour founded state institution, the EQC?

The operating balance deficit may be decreasing, but the Nats’ brains deficit is growing fast.