Friday, March 01, 2013

"At the front of the queue"

When National unveiled its policy to sell our state-owned assets, they promised that Kiwis would be "at the front of the queue". Now it turns out that they're planning to flog it off to the Australians:

A report from across the Tasman, say Mighty River Power will also be listed on the Australian stock exchange.

The companies in charge of Mighty River Power's float - expected to raise about $1.9 billion - reconvened meetings soon after the Supreme Court decision and were working on a dual-listing, the Australian Financial Review said.

Which means that Mighty River will follow our other major companies: owned by Aussies, creating another cannula in our veins allowing our economic lifeblood to be siphoned off across the Tasman. And then, when they've asset-stripped it and run it into the ground, they'll expect the government to buy them out at an inflated price to prevent blackouts - just as they did for KiwiRail.