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Banks Sells Out Aucklanders

Media Release

06 December 2002

Banks Sells Out Aucklanders

New Zealand First has criticised the Auckland City Council for flogging off ratepayer assets to foreign investors.

“Auckland Airport has been a profitable asset for the council and the ratepayers, yet the council has chosen to sell half of their shares,” said Mr Peters.

“These shares were floated for $3.85 originally and opened at $5.30 today. The Airport has been a highly profitable asset for the council.

“This business is one of the most successful businesses in Auckland, indeed New Zealand. So why sell it?

“Mayor John Banks says he will pay off council debt, just as Labour in the eighties and National in the nineties promised to do with similar assets owned by the New Zealand people. As then, like now, this will be just one further loss for New Zealanders.

“If this is such a good idea why doesn’t the Mayor put it to the people of Auckland in a referendum.

“It is after all their property not his,” concluded Mr Peters.


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