Wednesday, May 8, 2013

Tweet of the Day

Steve Morris is a candidate for Tauranga City Council this year in the Mt Maunganui-Papamoa ward. And he's raised a very important issue which is an unintended consequence, but a consequence nonetheless of the Labour/Green NZ Power policy announcement; check this out:

TECT is the Tauranga Energy Consumer Trust, and its website reports thus:

About Us

TECT (Tauranga Energy Consumer Trust) was formed in December 1993 and is now one of New Zealand’s largest energy trusts.  TECT’s income and capital is used to provide benefits to Consumers during the term of the Trust.  Our "Consumers" (approximately 62,000) are TrustPower account holders basically in Tauranga City and the Western Bay of Plenty District.
TECT’s income is mostly derived from its 103,878,838 shares, representing 33% in the capital of TrustPower Limited.  This investment is worth approximately $753 million (at 31 March 2012).
In the past 17 years, we’ve returned millions of dollars back to Consumers and the Community, supporting thousands of people and good projects throughout our District.

Here is the first tangible example of a community disadvantaged by the Labour/Green announcement, Given that both the Tauranga and Bay of Plenty electorates are National fortresses, Labour and the Greens will quite possibly not be too worried. But wait until a trust or organisation in Labour heartland is similarly affected. Then the folly of Labour and the Greens' Great Leap Backwards will be there for all to see.

Don't say we didn't warn you... 


Grant McKenna said...

I don't think that this is necessarily an unintended consequence, so much as a disregarded one. Trusts create a structure separate to the state and reduce the power that control of the state gives; weakening civil society is standard for any- left or right- with an authoritarian streak.

3% said...

97% of New Zealanders aren't buying shares.

Oh dear.

Missy said...

I think this quote from a book by Lois McMaster Bujold is rather appropriate here.

"When you choose an action, you choose the consequences of that action."

Same said...

3% have have taken over the risk of having a Greens/Labour/Mana/NZ1/Maori Government killing the company. The other 97% have $1.6billion in the bank now.