Yesterday John Key announced what he was going to buy with the sell-down of the state owned power companies; magic beans. I saw this one coming, oooh,
way back in early September:
A partial float is rotten value for the government. OK, so why sell it anyway? The puny sale prices will not go towards paying down structural debt, but is instead earmarked for pork; roads, schools and so on. Stuff that should be already budgeted for in normal government expenditure, but will instead be used to sway marginal constituencies to National's tune.
In other non-news, the focus group wet dream that was the National Party's Opening Address has had the
rather clumsy disguise pulled off its face:
