May 12, 2008

We Knew The Rail Purchase Was A Crock

Yet more of the truth is emerging. We have paid through the nose, why? Why does thee Government need to own rail? And if it did, why did it pay such aa high price? Is Labour trying to buy the election, or is it trying to spend the coffers 1990 style? This from the NZ Herald...

In summary

Taxpayers face having to pay an extra $200 million as part of the Government's buy-back of the national rail service.
The extra money - not publicised when the Government announced the deal last week - is a loan to former owner Toll New Zealand from its parent company in Australia.