National's Finance spokesman, Bill English, was recorded saying the National Party would sell off Kiwibank eventually.
It's one more sign that the National Party voters loved to hate in 1999 hasn't gone away, it's gone undercover.
Kiwibank has been hugely supported by Kiwi since it was founded. It has served to keep the hugely profitable Australian banks operating in New Zealand from raising their banking fees - saving us all, collectively, hundreds of millions of dollars. Kiwibank also has a higher ratio of deposits to loans and is therefore arguably more stable. From every perspective, Kiwibank has been a roaring success.
It says a lot about how ideology counts for more than reality in the National party that they see no good in these things and would prefer to sell Kiwibank off - mostly likely to a foreign owner.
You begin to wonder whether the National Party is misnamed. Perhaps they should be called the "Foreign Bank and Insurance Company Party".
[UPDATE: The full transcript is at 08Wire.]
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