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SOE outflanks Labour ideology

John Key MP
National Party Finance Spokesman
22 March 2006

SOE outflanks Labour ideology

Today’s news that Kiwibank’s bought 51 per cent of a home loan company shows the Government acknowledges the wisdom of mixed ownership of state assets, says National Finance spokesman John Key.

“Far from discouraging mixed public-private ownership, the Government has actually approved the further extension of the mixed ownership model with the purchase by Kiwibank of New Zealand Home Loan Company.

“This is the second foray into mixed ownership by NZ Post - the other being DHL.

“It’s clearly a strategy NZ Post has got, and is likely to be employed by other SOEs as well. Kiwibank has got in via the backdoor on mixed ownership even as Labour’s rhetoric portrays the opposite.

“The Government has argued that there’s no role for mixed ownership models - yet here is an SOE outflanking Labour.

“A mixed ownership model has many advantages, which can include injection of capital, outside directorships, and external analysis. Kiwibank is to be commended,” says Mr Key.


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