The National government has introduced plans to sell 49% shares in state-owned enterprises to private investors. Many on the left call for “New Zealand ownership,” but the real issue here is corporatisation of resources; whether by Kiwi or international investors.
National describes their plans as a “mixed ownership model,” claiming they’ll cap investment by any one company at 10%, and that 85-90% of shares will be held by Kiwi “mum and dad” investors. However investigation by the Ombudsman reveals that Treasury has no evidence for these claims. Only a small minority of investors will benefit from these sales. [Read more...]