Election 2014

1 Nov 2011

CTU unhappy with linking asset sales to Kiwibank

6:15 am on 1 November 2011

The Council of Trade Unions (CTU) is accusing the National Party of misleading voters about the possible benefits of asset sales.

National has said that money from the sales could be used to boost the growth of Kiwibank.

CTU economist Bill Rosenberg says the bank could soon need fresh capital just to maintain current lending growth, but that's a decision any incoming government would have to make, and to tie it in with asset sales is just "confusing the public".

But National's finance spokesperson, Bill English, says the capital freed up by asset sales could be used for meeting future regulatory requirements and financing more aggressive growth plans.