Solid Energy – lessons unlearnt

August 13, 2015. 1:45pm

New Zealand should learn from the Solid Energy fiasco, says ACT Leader David Seymour.

“Politicians forced taxpayers to invest in a coal business which has gone bust, losing $500 million in value since 2011. Obviously the company should have been sold when it still had some value.

“Taxpayers deserve an apology. Half a billion dollars of taxpayer wealth has gone down the toilet.

“You can be sure that most politicians will learn nothing from this. They will still keep making the case for forcing taxpayers to own businesses for the politicians to run. It is madness.

“Government mal-investing taxpayer money makes us all poorer. We’re better off when this money is left in the pockets of New Zealanders, who can make their own decisions about how to spend or invest it.

“We need small and effective government, with low taxes to match. Government should stick to the essentials, and keep well clear of trying to run businesses.”

ENDS

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