Key cooking the books on asset sales
National has already booked the revenue from asset sales – despite people opposing them 4 to 1. The Budget docs say capital spending will be funded from the ‘balance sheet’: ie. buying new assets like schools and hospitals with revenue from selling the power companies. Key will re-announce this today. But, in the long-run we’ll be able to afford more schools and hospitals if we don’t sell our profit-generating assets.
Update: as expected, Key has re-accounced what is already in the Budget and given it a fancy new name.