Yes, it does make sense.
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various national state-owned enterprises play a substantial role in Singapore's economy. The sovereign wealth fund Temasek Holdings holds majority stakes in several of the nation's largest bellwether companies, such as Singapore Airlines, Singtel, ST Engineering and Mediacorp.
Wow! So in that country there is ownership of assets by a state entity? 'Majority stakes' you say?
Like these (for a local example)?
State Owned Enterprises:
Airways Corporation of New Zealand Limited
Animal Control Products Limited
AsureQuality Limited
Electricity Corporation of New Zealand Limited (Residual)
KiwiRail Holdings Limited
Kordia Group Limited
Landcorp Farming Limited
Meteorological Service of New Zealand Limited
New Zealand Post Limited
New Zealand Railways Corporation
Quotable Value Limited
Transpower New Zealand Limited
PFA schedule organisations:
Crown Asset Management Limited (Schedule 4A)1
Crown Infrastructure Partners Limited (Schedule 4A)
Genesis Energy Limited (Schedule 5)
Mercury New Zealand Limited (Schedule 5)
Meridian Energy Limited (Schedule 5)
Other organisations:
Christchurch International Airport Limited
Dunedin International Airport Limited
Hawke's Bay Airport Limited
It makes sense to someone from the Left. It's like Robertson borrowing and then saying 'this is my COVID fund' and then talking about making 'savings'. There is no 'fund' and there are no savings, it's all borrowed money. And we will be paying over $9 billion in interest on it every year from 2027 onwards.
‘Print some money’….Print some inflation more like it. While debasing the currency and destroying its purchasing power.
‘I can raise taxes’….can you? In a democracy? Maybe in the totalitarian state you crave, but mostly people don’t vote to increase taxes - particularly not in periods of high inflation. The MMT numpties advocate raising taxes to deal with high inflation - only a dictator could get away with that.
We are going backwards on that score. The Cullen Fund cannot grow at the same pace as Robbo’s debt is growing. Net wealth is declining for that reason. Plus you have to add in the money being paid in interest to service the debt. Hopefully you are not an economist or financial advisor.
Inflation erodes debt doesn't it (hence printing money has a double bonus).
A Sword of damacles vs our "debt burden" which isn't that high internationally, currently.
Yeah good one. You’re advocating for high inflation now. Are you really Grant Robertson? Or Chris Hipkins? You seem to have the exact same mindset. We are looking at a series of enormous deficits in the coming years & all you can bray on about is “low debt”. That was a situation bequeathed to this rotten lot by all previous governments, it’s not for these fools to take that legacy and just put the pedal to the metal on borrowing to finance their socialistic daydreams.