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

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news