Govt forced Kiwibank move

The National Government’s failure to invest in Kiwibank has today forced Kiwibank’s owner New Zealand Post to take a step down the road to privatisation of the bank, the Green Party said.

“If National had injected capital into Kiwibank, to allow Kiwibank to expand like it should have years ago, we wouldn’t be looking at a possible future privatisation,” Green Party Co-leader James Shaw said.

“Bill English says he’ll buy the Kiwibank shares back if he has to in five years, but he won’t be Finance Minister then, so any promises he makes today are hollow.

“The fact is the Government forced Kiwibank’s hand and today’s announcement will make it easier than it was before to move Kiwibank into private ownership.

“In Government, the Green Party will ensure that Kiwibank remains in public ownership and will buy the shares back if ACC or the Super Fund wants to sell them.

“If Kiwibank ends up in private hands in the future, today’s announcement will be the start of that,” Mr Shaw said.

Latest Finance Announcements

Story

Case for excess profit tax on banks clearer than ever

The Government should adopt an excess profits tax and use any revenue raised to help people make ends meet, following the rise in the Official Cash...
Read More

Story

Tax excess profits, don’t leave it to the good will of large corporations

The Green Party is once again calling on the Government to introduce an excess profits tax and use the money to support people, rather than relying...
Read More

Story

RBNZ report strengthens case for excess profit tax and more income support

A drop in household income from rising bank interest rates further demonstrates the need for an excess profits tax, the Green Party says.
Read More

Story

Green proposals to tax excess corporate profit

The Green Party has today put forward proposals to ensure large corporations profiteering from high inflation are taxed fairly and the money used t...
Read More

Story

Redesign the tax system to work for everyone

The high rate of inflation continues to show why we must design a fairer tax system that addresses inequality, the Green Party says. 
Read More

Story

Redesign tax to work for everyone

Evidence that shows Aotearoa has one of the worst tax systems in the world for reducing inequality needs urgent attention, the Green Party says. 
Read More