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Winston plans savings grab


Winston Peters has announced plans to grab private savings to fund his renationalisation plan for the power companies:

Mr Peters said he would be happy for a Government of which he was a part to borrow or to use the superannuation fund to buy back shares at no more than cost.

Mr Peters said his NZ First party was renowned for going into negotiations “knowing what we want and getting what we want”.

“Borrowing money would make economic sense because the returns would make that totally feasible, but there are other resources,” he said.

“You’ve got the superannuation fund, KiwiSaver or a number of avenues or options you could exercise.”

Mr Peters said it would make sense to borrow to buy back shares, and commentators who said it did not make sense were “unreconstructed economic morons”.

Since when has the Government had the power to direct Kiwisaver investment?

Will Peters force Kiwisaver funds to buy power shares , but be unable to sell them?

Would power company shares owned by Kiwisaver funds not be privatised?
In any event it appears that Peters wants to grab peoples’ savings and invest them as he wishes, not as they wish. Another move to dictatorship!




  1. 15/03/2013 05:17

    Whilst in the meantime, Winston’s telling Warner Brothers to pay it back; just a tad hypocritical of him, don’t you think?


  2. Allan permalink
    13/03/2013 19:43

    Peters is an economic cretin like Norman. They both have no idea how the world functions and live in another universe. Their utterances are worthless and should be taken with a grain of salt.


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