Sell it!

So Kiwibank is as they say, hitting the big time.

650,000 customers, total assets almost $10 billion and in 2008 it posted atax-paid profit of $36.8m.

Well done, you can start applauding if you like. However Kiwibank hasn't proved anything. It was funded through taxpayers, whether they were customers or not, put out ridiculous advertisements that made Kiwis look backwards and had political support from our previous Government over the last 9 years. Little mention that some of Kiwibanks call centre operations are in Australia (despite the TV advertising making fun of them) and despite Labour championing the bank, the Government still doesn't bank with them, choosing to do it through Aussie owned Westpac.

So why hold onto this "asset"? Politicians have no place running a bank and taxpayers should be allowed the luxury of not being unwilling owners. Give the people a real break and sell it, use the money to fund tax cuts.

Oh and Mr Key, National is supposed to support low taxes and I believe in the good old days they liked to privatise stuff. Now you're the owner of a bank and railway again... what are you going to do about it?

Story here (complete with cringe worthy headline)