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Politics
Martien Lubberink, Associate Professor of Economics, Te Herenga Waka — Victoria University of Wellington

The government taking full ownership of Kiwibank is a bailout in all but name – what are the risks now?

Kiwibank New Zealand Grant Robertson NZ Reserve Bank
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With the transfer this week of Kiwibank’s assets to a state-owned company, the New Zealand crown has now taken full control of the bank. At an estimated cost of NZ$2.1 billion, the change of ownership has all the hallmarks of a government bailout.

Former owners NZ Post, the Accident Compensation Corporation and the New Zealand Superannuation Fund could be considered justified in wanting to get out. It was an ailing bank in the making.

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