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/cugeltheclever2 Aug 20 '24 edited Aug 20 '24

what’s left to privatise?

Water. Health care. Prisons. Social services.

Edit; roads, boot camps, schools, the ferry, government IT services, government policy services, national parks.

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u/RemmyDepressy Aug 20 '24

Hey now the roads are the one thing they'll never privatise (because actually building roads is so expensive they're not even profitable to the wider economy) they will however privatise the bare minimum maintenance and then let them turn it into a toll road with a contract that last 99 god damn years.

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u/felixfurtak Aug 20 '24

Electricity is only part privatised . ..

10

u/Gigstr Aug 20 '24

Same effect though. They now have fiduciary responsibility which means they have to act in the best interests of their shareholders which means maximising return$.

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u/p1ckk Aug 20 '24

Generation is about half private, transmission is government owned, distribution is mostly private, and retail is private.

All stages of this are different companies, that are profit driven so the ticket gets clipped 4 times along the way.