The Partial Privatisation Mess

The Section 9 issue is but one of the crises marking the partial privatisation of state assets imposed by National. Business commentators see no point in the process. External investors are spooked by the Section 9 issue. The question of new capital is now a major problem - who will deliver new capital in the proposed arrangement and what will that mean for the state's shareholding? And, then, what will that mean for the returns and expectations of the private sector investors?

This is a case, once more, of a policy ill-thought-through and clouded by Mr Key's unique use of language and the ubiquitous flying by the seat of his pants. Am I the only listener who leaves one of his interviews wondering what he has said (and why)?