In a Briefing to the Incoming Minister just released, the Treasury said that in 2013, total shareholder return from state owned enterprises to the taxpayer was just 3 per cent. This is a little bit better than leaving the money in the bank.
Note: KiwiRail is excluded because of significant changes in its valuation methodologies over the past few years, including the significant write down in its asset values in 2012. . Total shareholder return for 2012 has been restated to include Solid Energy.
KiwiRail lost $248 million in 2013, after a $174.4 million loss a year earlier. Solid Energy lost $182 million last year last year. This $182m loss follows a $335.4m loss in the June 2013 year and a $40m loss the year before that.
Utopia, you are standing in it! 
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