Friday, October 02, 2015

How National spent our money

When National started selling our public assets, they promised they would spend the money on infrastructure. As usual, they lied:

But documents released under the Official Information Act show only a third of the $3.9 billion dollars allocated so far in the Future Investment Fund has been earmarked for education and health, with another quarter to transport


The figures show a total of $1.3 billion has gone to education and health - $635.6 million to education and $684 million to health - about a third of the $3.9 billion allocated.

Transport projects have received $990 million, about a quarter of the total.

The remainder has been spread between Immigration and Border Control, Justice, Housing, and Science and Innovation, while another quarter - about $1 billion - falls into a catch-all category called "other".

Mr Robertson said ministers have treated the money as a slush fund for pet projects.

And with most of the fund gone, they're still a long way from their promised $1 billion on schools. There's also no indication that this spending is additional spending, rather than being used to cover shortfalls from government cuts.

In short, National sold productive, revenue-generating assets, and blew the money on bullshit and operating expenses. This is what they call "prudent economic management": selling the family silver to fund their whims.