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

Housing plan a start, but much more needed to meet the scale of the crisis

The Government’s housing announcement is a very small start but it doesn’t go far enough to genuinely meet the scale of the crisis.
Read More

Story

Greens announce 4 point plan to stop runaway housing crisis

The Green Party is calling for bold, transformational measures to stop the accelerating housing crisis that is locking New Zealanders out of a stab...
Read More

Story

Tax data exposes gross inequity between the wealthiest and poorest New Zealanders

Government data today shows that the wealthiest New Zealanders aren’t paying their fair share of tax, whilst everyone else chips in, Green Party sp...
Read More

Story

Economic windfall should be funnelled straight back into communities: Green Party

Following an economic forecast that shows Aotearoa strongly rebounding from COVID-19, and Crown accounts looking much healthier than expected, the ...
Read More

Story

Green Party to abstain from tax changes that will worsen house crisis in absence of tax on assets

The Green Party will abstain from a bill that will make slight changes to income tax brackets.
Read More

Story

Green Party welcome Adrian Orr’s full and frank advice on tax

We welcome Adrian Orr signalling that he will provide advice to the Finance Minister on fiscal measures, include tax changes, to cool the housing m...
Read More