Railways : Crown accounts
At what value will the Crowns purchase of the railway assets go into the accounts?
In the liability column there will be an entry of negative $665m, cash + nil return on assets due to the rent free arrangement.
In the asset column a new entry of the asset value will be, presumably, $430m.
The adoption of NZIFRS will ensure that the immediate loss of tax payers wealth, $235m, will be realised and recognised immediately.
It will be interesting what the loss is classified as. To be consistant it should be recorded as an "electoral expense"!
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2 comments:
Dumb bastards.
If Toll couldn't get enough revenue to pay for track maintance, why hsa Labour brought the unprofitable size of the business.
And if Toll thought rail was so great why then but a trucking company with some of the proceeds?
Railways is a very strategic asset for this Government to transport their increasing supply of gravy.
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