Fonterra's biggest shareholder, ex-director Colin Armer, says it’s unbelievable the co-op’s directors and management have lost so much money.
This is highlighted by claims by Police Minister Stuart Nash that setting up a national firearms register and making the other changes would cost “between $42 million and $52m over 10 years”.
But Nash has conceded that Canada’s attempt to register all its guns in the 1990s was eventually scrapped when the original estimated cost of $2m blew out to $1 billion.
So, Nash reckons our gun register will only cost between $42m to $52m over 10 years. Yet based on the Canadian experience of a 500% budget blowout, our cost may well blow out to $21b to $26b before the Government eventually scraps the idea.
Oh well, it’s not the politicians’ money.