
When Labour launched their failed Three Waters scheme in 2021, which aimed to confiscate council water services and amalgamate them into mega-authorities controlled by Maori, one of the major concerns raised was over the financing of the scheme.
The quantum of the proposed debt was eye-watering - some $180 billion was to be
borrowed. Their figures were made more attractive because the repayment of that
debt fell outside of their 30-year cash flow projections!
This controversial funding arrangement was likened to a Ponzi scheme –
one day the chickens would come home to roost and the money would have to be
paid back.

