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How to Asset-Strip a Country in One PM Term

Posted by te2ataria on January 26, 2011

John Key reveals plan for asset-stripping New Zealand

The ‘Smiling Assassin’ will drive the getaway car!

Never before have so few caused so much harm to an entire country in such short space of time!

John Key says he is eying sales of country’s key state assets, especially the three large energy generators and coal company Solid Energy, to  lower borrowing.

“Prime Minister John Key, in his first major speech of the year, said Treasury would be asked to advise on the merits of selling up to 49 per cent of Mighty River Power, Meridian Energy, Genesis and Solid Energy.” Said a report.

What about Air New Zealand

He will also look at selling some of the government’s existing shares in Air NZ, but will try maintaining a majority stake in the company.

The value of the state’s prime assets?

Above and beyond any banker’s wildest dreams! The three large state-owned generators, Mighty River Power, Meridian Energy and Genesis have a combined value of $11.75 billion, and earn more than $700 million a year.

Now you see them, now you don’t!

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2 Responses to “How to Asset-Strip a Country in One PM Term”

  1. stedman said

    I had a funny feeling he was going to do that. What surprised me was that he waited so long. I also knew they were just using the Maori party to get into power. What surprised me there is that they didn’t “see” that and made a deal with the devil.

  2. Brad said

    Why oh why do we need SOEs to turn a profit if they are supposed to be working for us!? The whole point in any civilised country, if I understand correctly, is to keep the cost of essential services as low as possible, not to make a profit! Unbelievable..

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