NZ Herald on Labour’s $100 million get Winston on board fund

The Herald editorial:

It was advertised as the Labour Party’s last big policy of the election campaign. When delivered, however, the plan to set up a $100 million-a-year sovereign wealth fund to invest in “strategic” assets, including clean energy, prompted only a scratching of heads. So small was it in size and so opaque was its intention that Labour’s motive was anyone’s guess. Was it meant to appease Winston Peters? Was it designed to appeal to the Greens? Was it meant for Labour’s left-wingers?

Either way, it was a policy that had little in the way of either substance or merit.

I have a much better idea. Let the economic geniuses of the Labour Party caucus mortgage their houses and assets and raise $100 million of their own money and they can then invest that in whatever assets they want, and let’s see how much money they have left after a few years.