March 24, 2004

Media Release

Back to bad-old days with Kiwibank sale

National Party leader Don Brash is championing bad old policy in calling for Kiwibank to be sold, says the union that represents the bank’s staff.

EPMU national secretary Andrew Little said that Dr Brash didn’t seem to understand that New Zealanders had rejected the privatisation ideology of the 80’s and 90’s.

Dr Brash last night told TVNZ’s Paul Holmes that while he had not discussed the issue with caucus colleagues, he favoured selling the state-owned bank.

Mr Little said that Kiwibank had been established after the 1999 election by the Labour-led Government because New Zealanders wanted to be able to choose to use a locally owned bank.

The bank had proved popular, and was on target to make a bigger-than-expected profit next year, Mr Little said.

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