The Public Service Association is backing Labour's Future Fund plan, saying it will protect state-owned assets from privatisation and ensure the wealth they generate stays in New Zealand for the benefit of all Kiwis.
"This is exactly the kind of long-term thinking New Zealand desperately needs after the many short-sighted decisions by the current Government," said Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
"The PSA has always been clear on opposing asset sales. We played a leading role in public opposition to the damaging privatisation agenda of the 1980s and we've been proven right.
"Ring-fencing our state-owned assets from privatisation means keeping them in public hands where they belong - generating wealth for New Zealanders, not offshore investors.
"We've seen what happens when governments sell off public assets - the profits flow from the taxpayer to investors and New Zealanders pay higher prices and get worse service.
"National's sale of electricity generators is a case in point - latest inflation figures out today show power prices spiking over 11% in the last year, the highest rise since 1989.
"The PSA calls on all other political parties to draw a line in the sand once and for all and commit to no more state asset sales."
