NZ First votes for Government to buy back a Government owned bank

The Herald reports:

Banking in regional New Zealand was front and centre for New Zealand First at it annual conference today, with delegates backing its party to push for Kiwibank to bought back by the Government and make it the mandatory bank for central and local government.

Wow this is a special level of stupidity.

Kiwibank is owned by NZ Post (53%), NZ Super Fund (25%) and ACC (22%). All three are owned 100% by the Government so Kiwibank is already Government owned.

This is of course the party that had an MP that denounced the “fact” that the Reserve Bank was foreign owned.

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