Submission to the Finance and Expenditure Select Committee on the Mixed Ownership Model Bill
Summary of key points
- Caritas has reflected on the question of the partial privatization of State owned power companies in the light of Catholic social teaching on the common good, the protection of the poor and vulnerable members of society, the protection of the environment, and the principle of the universal destination of created goods.
- We recognise that Catholic social teaching does not prescribe specific public policy solutions. We also recognise that Catholic social teaching contains cautions both for people seeking to privatise and people seeking to nationalise industries and services which provide essential goods. It recognises both the value of the market and the limits to the market.
- Caritas does not favour the partial privatisation of the four State owned power companies. We believe continued state ownership is a better way:
- to ensure the provision of essential services, particularly for the most poor and vulnerable consumers;
- to improve our use of energy in the face of environmental destruction and climate change;
- to ensure that our commitments to the Treaty of Waitangi are met;
- to overcome or at least not worsen local and global inequalities; and
- to continue to have an adequate oversight of the behaviour of state institutions.