I’d quite like to live in the reality in which hundreds of thousands of ‘mum and dad’ New Zealanders email their financial advisors this morning to find out how much cash they can liquidate from their investment portfolios to buy $1000 Mighty River Power shares and thus qualify for the loyalty bonus.
But guess who isn’t eligible for the loyalty bonus? KiwiSaver and other institutional investors. So the two million New Zealanders who invest in KiwiSaver schemes miss out, unless they have an extra few grand floating around which they can invest in the stock-market, instead of say, paying off their mortgage.
And, as usual, Key and English are such amazing businessmen they haven’t bothered to figure out how much this will cost, or where the money will come from.