One of the frequent arguments against the Government's proposed partial sale of state assets is that these assets are already owned by the New Zealand public. Taking this argument to its logical conclusion, then the New Zealand public is equally liable for state debts.
Should people have difficulty with this concept, I suggest they try telling their bank manager that while they own their home, they have no responsibility for the mortgage. Interestingly, this concept of public liability for state debt has gone down like a lead balloon in Greece.
With government debt steadily rising to meet budget shortfalls, I have no interest in being a public owner of state assets or accepting any public liability for state debts.
- © Fairfax NZ News