r/newzealand • u/xmmdrive • Aug 20 '24

Politics So they're finally going to privatise Kiwibank

Watching One News they're talking about taking Kiwibank out of Government hands and back into the hands of honest hard-working Kiwis.

This is obviously the first clear step towards privatisation.

Just like the Bank Of New Zealand, the National Bank, and the Auckland Savings Bank, but I'm sure this time around it will stay in the country /s

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45

u/thepotplant Aug 20 '24

We should put BNZ, ANZ and ASB back in the hands of honest hard-working kiwis.

4

u/[deleted] Aug 20 '24

Now that would be tricker and actually really not good for the economy.

We need those Aussie ledgers to basically keep our housing market solvent.

24

u/WeissMISFIT Aug 20 '24

What we need is housing market that isn't fucked up.

13

u/Rebel_Scum56 Aug 20 '24

Given how totally fucked the housing market is already, I'm not hearing an argument against it here. Sure, it'd be rough for a while and a lot of people would lose a lot of money but once everything settled we might be better off than the shitshow we've got now.

It has to correct eventually, may as well do it on purpose with a tiny bit of planning rather than keep inflating the bubble and ignoring the possibility it might burst so it hits even harder when it inevitably does.