Hosking on asset sales

Mike Hosking's daily breakfast radio programme on Newstalk ZB begins each morning with an editorial piece. Hosking later posts the transcript of his editorials on the Newstalk website.

This morning, unsurprising, Hosking commented about asset sales and the Mixed Ownership Model; he opines:

So the legislation for the asset float has passed. It would be nice to think those who don’t like it accept it as being part of the process of democracy. The Government has a right to do this - they campaigned on it, the won an election on it, they have the numbers in the house. That’s how democracy works. And perhaps we need to see some of the opposition for what it is. I watched on the news last night some of the protest. Did you see it? How many were there? 12? 15? 20? That’s not a protest and it’s not really opposition. It’s bored people looking for attention.

If there is a failure on the Government’s part in this it’s their inability to sell the concept, to gain broad support. There is not a poll that says a majority of us back the idea but ironically in the polls that tell us the bulk don’t like it, they also show that the majority are keen to buy a stake. So the reality is if we had a choice we wouldn’t sell but if we’re going to, we don’t want to miss out on a slice of the action.

Hosking is right on the money here, in our ever-humble opinion; to quote his words "The Government has a right to do this - they campaigned on it, the won an election on it, they have the numbers in the house. That’s how democracy works.". It is indeed how democracy works, and yet still the Left tries to circumvent democracy by pushing for a CIR, although in this case it should be retitled a PPIR; Political Party Initiated Referendum.

The fact that more thasn half of Labour and Green Party voters surveyed by Key Research would buy SOE shares if able simply underlies the Government's desire that shares remain in the hands of New Zealanders. We blieve that it is highly likely that the share issue for Mighty River Power will be oversubscribed.

Labour, the Greens and the Mana Party will doubtless keep beating the drum to try and keep this issue alive, but even their supporters have acknowldged that the partial sale of state assets will happen, and if you can't beat 'em you should join 'em. When the sky doesn't fall in, electricity prices don't rise, assets are started from the Future Investment Fund and investors start reveing a dividend on their investments, they will wonder what all the white noise was about.