In the 1980's, the fourth Labour government sold anything that smelt of sacrificial meat in the name neo-liberalism. This to keep themselves in power. And this is when the rot in the left set in. The rights that workers had striven for for decades and especially since 1951 when New Zealand emphatically declared the need and urgency for a proper "living wage" were sacrificed on the alter of "Needs Political Capital".
Workers were tossed aside for dollars for the mates in the Govt Depts. . Labour sold the assets to employ more socialists, to establish monolithic tax payer draining welfare constructs. (think WFF and interest free student loans).
“Remember when Labour sold New Zealand Steel to Equiticorp for $327 million? This 1988 sale was pushed through Parliament under urgency.
Remember when Labour sold Petrocorp to Rossport Investments in 1988 for $801 million? Again, rushed through under urgency.
Remember when Labour sold Post Office Bank to ANZ Banking Group in 1989 for $665 million? – again approved under urgency – and no select committee hearings.
In just three years, Labour sold over 15 state assets for almost $10 billion to the highest bidders.
Who voted for these asset sales without telling the public about their plans at the previous election?
Phil Goff. Annette King. Trevor Mallard. And the rest of the Labour Party.
The same people who are now criticising the National Government’s mandated, long signalled, partial share offer to New Zealanders.