Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Green Amendment Will Save Ratepayers Money

Green Amendment Will Save Ratepayers Stacks Of Money

A commonsense Green Party amendment to the Local Government Rating Bill will save ratepayers in many districts hundreds of thousands of dollars, Green co-leader Jeanette Fitzsimons said today.

Ms Fitzsimons' amendment, which formed part of the Bill when it passed its third reading in Parliament last night, will allow councils to borrow money for projects from their own financial reserves instead of having to borrow from banks.

"Until now councils which have had financial reserves such as port shares have been unable to borrow this money from their own reserves and have had to pay higher interest rates to borrow money for projects from outside lending institutions.

"My amendment will allow councils to borrow from their own reserves, in a fully transparent fashion. This makes sense as borrowing from their own reserves will save councils around two per cent in transaction costs on average," said Ms Fitzsimons.

"This is the difference between the borrowing rate and the lending rate.

"In my own electorate the Thames Coromandel council will save $180,000 from this simple amendment through being able to borrow from money from their sale of electricity shares. I expect other larger councils around the country will make significantly larger savings."

Some councils are already borrowing internally because the law has not been clear. However the Auditor General has advised that this is probably illegal.

"This amendment will bring peace of mind to those councils already taking the risk, and cost savings to those which have taken a more conservative approach," said Ms Fitzsimons.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>

ALSO:

Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>

ALSO:

Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news