LabourGreens steal from us all

JB Were says the LabourGreen power plan will sap energy from the local market:

The Labour/Greens announcement on electricity sector reform concerns us on two fronts: firstly, the move to a state buyer of power risks being a retrograde step for the New Zealand economy. Secondly, we believe it will prove damaging for New Zealand capital markets, and comes at an unfortunate time given the significant progress made here since 2010. We detail these two concerns below: . . .

The damage to capital markets has already started.

Share prices in energy companies  fell yesterday in the wake of the LabourGreen plan to power us back to the socialist seventies.

TrustPower, which is 50.7 percent owned by Infratil, fell 5 percent to $7.18, leading decliners as fallout from the opposition parties’ plan to centralise buying of electricity and split generators from their retail arms weighed on utilities.

Contact Energy fell 2.8 percent to $5.31 and lines company Vector slid 2.1 percent to $2.82. Infratil dropped 1.3 percent to $2.30. . .

Those shares aren’t just owned by the wealthy the left hate.

They’re also owned by people of modest means who have worked hard and put something away for a rainy day.

They’re also owned by community trusts and other philanthropic organisations which fund charitable projects.

They’re also owned by insurance companies, including ACC.

They’re also owned by Kiwisaver and the Superannuation Fund.

The LabourGreen power plan is in sabotaging the value of investments is stealing from us all.

3 Responses to LabourGreens steal from us all

  1. TraceyS says:

    Cheaper power seems at odds with Greens push to be more energy efficient. Like many of Labour’s ideas it aims to produce cheap, short-term gains that won’t be sustainable and will lull people into a false sense of security. If the power price drops significantly then people will inevitably come to use more and give less attention to energy waste. So the demand will rise again and so too will prices.

    When I worked for the Electricity Corporation in the early 90’s most of the staff got an “electricity concession”. That meant a certain portion of their power bills were paid for them. I recall one guy who was shocked to find out that his summertime power bill in Central Otago was over $1,000 for one month. He had forgotten to turn off the nightstore heater which must have been going full-bore. There was no reason to care about power usage until it really hurt.

    While growing up, power use (or lack of it) was something that hurt every day of the colder months. After my Dad left home and was no longer supplying firewood for the coal range, we had only a small fan heater for heating. It didn’t go much. It would definitely have gone more if Mum could have afforded it. But the house would still have had plenty of holes and gaps for warmth to escape and I would still not have had enough blankets on my bed no matter how much that heater had gone.

    This was not the fault of the State. It was largely the responsibility of my father. But that’s what you get when parents expect, as my father did, that the State is responsible for keeping their kids warm. It’s all wrong. I learned this in 1984 and the following years when my father promised that everything would get better just because of the election result.

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  2. Viv says:

    So you were cold as a kid and know how unpleasant that was. Is that ok because it’s just the luck of the draw as to whether you were born to parents who are able to afford a warm house or not? The left would like to improve living conditions for kids who happen to be born to parents who are poor, (due to bad decisions, bad luck or bad attitudes) . Are you against that because you don’t think the state should care about those kids? It doesn’t fit with the link you put in to the New scientist article. If you want to prevent health problems, then you try and make sure houses are warm for young and old.

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  3. TraceyS says:

    “The left would like to improve living conditions for kids who happen to be born to parents…” What a joke. The left want their parents’ votes that’s all. And they’re hoping to buy them for $300 a year. Being someone who was once within the group they are sucking up to I find it a wholesale insult. Growing up poor isn’t growing up stupid.

    “… you don’t think the state should care about those kids?”. The “state” doesn’t care! How could it? People care. I was helped by people who cared, not a state that claimed to care. Those people can be a caring neighbour, a member of a prospering community, an employer running a successful business, a wise teacher etc. My Dad sat back and waited for the state to care and his kids grew up cold and hungry at times. My kids are warm and well-fed because I did not share his expectations.

    Regarding my link, the NewScientist article is about austerity. In the words of Celia Lashlie “There’s no denying we’re in difficult times – you only have to look at Finance Minister Bill English’s face every time he appear on television…” (2010). But not “austerity”. Not yet. We’re not there yet, but where is Labour/Green’s plan for avoiding it if they get elected? Nowhere I can see. They buying our votes to wing it.

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