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Kiwibank may be “safe” but is NZ Post up for sale next?

6 April 2016

Kiwibank may be “safe” but is NZ Post up for sale next?

The proposal to sell off 45% of Kiwibank to ACC and the NZ Super Fund is highly concerning for the people who work in the wider New Zealand Post Group, and the country as a whole.

“Kiwibank is the jewel in the crown of the NZ Post Group,” says Joe Gallagher, industry organiser for E tū, the union representing NZ Post and Kiwibank workers. “There seems to be no benefit in this sale except moving money around so the government can claim to be in surplus again.”

“It will have serious effects on posties and bank workers. At the very least, it deprives Post of the support it needs to prepare for the future and create stable, meaningful jobs for Kiwis.

“At the worst, it looks like the government is preparing NZ Post for sale – and not into public hands.”

Central government demands for increased dividends from Post have led to service cuts and job losses, including 500 redundancies announced a week ago.

“Despite this proposal apparently coming from the Board, it fits perfectly with the government’s agenda of running Post as a business, not a public service,” says Joe. “This is not in the best interests of New Zealand Post, Kiwibank, or the country.

“Kiwibank should remain 100% directly owned by the government, and Kiwibank and Post should be working together to grow their business and provide good services and jobs to Kiwis instead of making the government’s balance sheet look good.”

ENDS

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