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

 


No asset sales for Christchurch

1 August 2014

No asset sales for Christchurch

Christchurch City Council should not be forced into selling its strategic assets, the Green Party said today.

Today’s report into Christchurch City Council’s finances by Cameron Partners shows that the Council is facing a substantial financial hole, with debt peaking in 2019 when its borrowing requirements rise to meet the needs of debt and the anchor projects. The report promotes asset sales or ‘asset optimisation’ as a solution to the Council’s substantial funding requirement.

“A firesale of Council assets involving the sale or partial sale of strategic assets such as Orion and Christchurch Airport is not in Christchurch’s interests,” said Green Party Christchurch spokesperson Eugenie Sage today.

“The strong push to sell off or sell down Council assets in the report by investment bankers Cameron Partners is not surprising given the company or its principal involvement in asset sales.”

Cameron Partners’ founder, Rob Cameron, facilitated the sale of major state asset Telecom in the late 1980s and led the Capital Markets Development Taskforce in 2009 that proposed the most recent round of asset sales. Cameron Partners also bid to be the Government’s state asset sale advisor in 2011.

“Selling the city’s strategic assets to fill the financial hole does not have the long-term interests of the city at heart,” said Ms Sage.

“Today’s report shows there is an urgent need for the Government to step up and show flexibility towards the City Council.

“There needs to be a genuine partnership in applying the cost-sharing agreement between the Crown and the City Council in light of this information about the Council’s financial position and the hole in its budget from 2019.

“The Government needs to look at what is best for the city as a whole and be flexible about the need, timing of, scale, and cost of some of the anchor projects.

“Easing the pressure on the Council to fund the anchor projects will mean more scope for helping the City Council with priority projects in rebuilding community infrastructure,” said Ms Sage.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future?

Certainly, at the end of this week, the next US President will have won office (at least in part) thanks to his proven ability at (a) scapegoating refugees and migrants (b) wooing neo-Nazis and racial supremacists (c) attacking journalists and judges (d) threatening to jail his opponents (e) urging nuclear proliferation and (e) by promising to restrict women’s rights to control their own fertility.

On the face of that campaign record, there wouldn’t seem to be much in common between Donald Trump and say, Spain’s centre-left populist party, Podemos. Yet arguably, the similarities could be instructive for the Labour/Green partnership here. More>>

 
 

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Liquor Sponsorship: Researchers Call For Ban On Alcohol Sponsorship Of Sport

“Due to alcohol sponsorship of sport, New Zealanders, including children, were exposed to up to 200 ads per hour they watched televised sport, and people watching football and tennis saw alcohol ads for almost half of each game,” says Associate Professor Signal. More>>

ALSO:

Mt Albert: Ardern For Labour, Genter For Greens

At the close of nominations, Jacinda Ardern was the sole nomination received for the position of Labour’s candidate for the Mt Albert by-election, says Labour General Secretary, Andrew Kirton. More>>

ALSO:

Earlier:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news