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  "description": "10 News Stories They Chose Not to Tell You",
  "path": "/your-daily-ten-10-2026-042/",
  "publishedAt": "2026-03-10T21:00:25.000Z",
  "site": "https://goodoil.news",
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  "textContent": "**This is edition 2026/042 of the _Ten@10_ newsletter.**\n\nHi all,\n\nThis is the Ten@10, where I collate and summarise ten news items you generally won't see in the mainstream media.\n\nEnjoy!\n\n* * *\n\n## 1. How asset recycling can help solve the infrastructure deficit\n\nRoger Partridge\n\n  * ⚡ The government confirmed it will spend up to **$200 million buying new shares in Genesis Energy** , officially citing energy security and stronger assets.\n  * 📜 The real driver is legislation under the mixed ownership model, which forces the Crown to maintain its **51% stake** , meaning taxpayers must buy new shares whenever the company raises capital.\n  * 💰 Private investors were willing to fund the share issue, but the law left ministers with two choices: **buy the shares or prevent Genesis from raising capital**.\n  * 🏥 Critics argue the **$200 million could instead fund infrastructure** like hospitals or water systems rather than preserving a stake in a listed electricity company.\n  * 🔌 The success of **Contact Energy** since full privatisation in 1999 is cited as evidence that electricity firms can operate successfully without government ownership.\n  * 📊 The Crown’s balance sheet totals nearly **$600 billion** , including around **$24 billion in commercial enterprises** alongside essential infrastructure like roads, hospitals, and schools.\n  * 🏢 These state holdings accumulated over decades without a clear strategy, spanning businesses such as **Air New Zealand** , **Kiwibank** , **New Zealand Post** , **Television New Zealand** , farms, and even the national weather service.\n  * ❓ This raises a policy question: **should billions remain tied up in commercial assets or be redirected toward urgently needed infrastructure?**\n  * 🧠 Treasury Secretary **Iain Rennie** has warned that New Zealand cannot grow its way out of fiscal pressure and will need **balance-sheet changes** , including capital recycling.\n  * 🔁 The **The New Zealand Initiative** report  _Renovating the Nation_ proposes **asset recycling** —selling non-essential government assets and reinvesting proceeds into infrastructure.\n  * 🇦🇺 The model mirrors **New South Wales** , which has raised over **A$50 billion since 2012** and funded major projects like **Sydney Metro** and **WestConnex**.\n  * 🏗 Successful asset recycling requires safeguards: proceeds placed in a **protected infrastructure fund** , spending that **adds to existing budgets** , and **independent project prioritisation**.\n  * 🧭 New Zealand’s **New Zealand Infrastructure Commission** has identified infrastructure needs but **cannot prioritise projects** , leaving decisions vulnerable to political pressure.\n  * ⚖️ Supporters argue regulation—not ownership—protects consumers, with oversight from the **Commerce Commission** ensuring fair pricing in regulated industries.\n  * 📉 Critics worry about losing dividends, but proponents argue the **sale price reflects those future earnings** , while infrastructure investments generate broader long-term economic returns.\n  * 🗳 With a **November election approaching** , voters may need to decide whether the government should keep commercial assets or **sell them to fund infrastructure upgrades**.\n\n\n\nRead More\n\n### This post is for subscribers only\n\nBecome a member to get access to all content\n\nSubscribe now",
  "title": "Your Daily Ten@10 - 2026/042",
  "updatedAt": "2026-03-10T21:00:25.332Z"
}