Key won't sell Kiwibank, repeating election pledge
5th Jun 10, 9:08am
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Repeating is 2008 election campaign pledge, John Key has ruled out selling Kiwibank "under my leadership", according to a report in the Weekend Herald.
Even a partial float seems to be off the agenda.
Kiwibank is under serious pressure to raise capital to fund the growth in its mortgage book, and this position by its owner will likely put the brakes on at the SOE.
It might also signal a less competitive market for mortgages.
It also appears to undercut recent statements by Bill English. The Minister of Finance is reported to have insisted that Kiwibank pay normal SOE dividends.
This John Key pledge echos his similar undertaking on the retirement age and superannuation.
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