The worst idea yet

Winston Peters announced that NZ First wants to go down the path of Karl Marx and nationalise the BNZ, basically because it was once owned by the Government around 40 years ago.

The BNZ constitutes around 20% of the equity and revenue of National Australia Bank which has a market cap of around $137 billion. So the minimum you would expect to pay is $29 billion. Imagine wanting to spend $29 billion to buy back an asset from 40 years ago.

And then imagine what would happen to BNZ when their is a change of government and Chloe Swarbrick is Finance Minister and will appoint Golriz and Darlene as directors!

I thought it would be hard to find a worse policy than the Greens asset tax, but Winston has managed it.