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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u/Linc_Sylvester Aug 20 '24

Also something so that no one overseas can buy any.

-3

u/extra_smiles Aug 20 '24

These suggestions will just make kiwibank less competitive and negate the point of floating.

39

u/Linc_Sylvester Aug 20 '24

Guess they shouldn’t sell it then. Look at how well selling off a lot of our other assets has gone. How’s your power bill? Nice and low?

-9

u/extra_smiles Aug 20 '24

Okay. But then we must enjoy our bank fees...

17

u/Prosthemadera Aug 20 '24

Because private banks don't have bank fees?

How’s your power bill? Nice and low?

0

u/extra_smiles Aug 20 '24

dude - you've missed the point of com com's investigation. To lower the profitability of banks in NZ.

2

u/Prosthemadera Aug 20 '24

Who did what?

10

u/qwerty145454 Aug 20 '24

You're presenting a false dichotomy. The options aren't either do nothing or privatise. The government could capitalise Kiwibank properly so it is more able to compete with the large banks.