Edmund Burke said, “Those who don’t know history are doomed to repeat it.”
The National Party does know its history and has no intention of repeating the mistakes made by the then-Labour government (in which were current Labour leader Phil Goff and Act MP Roger Douglas) when it sold state assets in the 1980s.
The proposal to sell minority stakes in a few State owned Enterprises, announced by John Key yesterday, is a very moderate response to the very real danger posed by New Zealand’s high level of debt.
The left are scaremongering that this will mean overseas ownership but it won’t.
The government will retain a majority share and New Zealanders will be first in the queue for shares. Among them could be Kiwi Saver providers, the Superannuation Fund and Iwi with Treaty Settlements none of which were possible buyers a couple of decades ago.
Even if they then on-sold to foreigners, and it is most unlikely all of them would, the government would still have a majority holding.
Funny how the people who oppose overseas ownership of land, (which can’t be taken away and use of which is subject to domestic laws) and minority shares in businesses, don’t seem to mind being highly indebted to foreign banks.
You don’t have to know much about history to realise that poses a far greater danger to our economy and sovereignty than selling a minority share in a few assets.