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:

Post-Cabinet Presser: EQC Reform, Greece & Surplus Stimulation

Prime Minister John key discussed proposals for reform of the EQC act and the Greek economic crisis at a press conference in Wellington. More>>

ALSO:

Education: Schools Funded To Trial Innovative Approaches

Education Minister Hekia Parata has announced the successful applicants for a new $10 million fund to encourage innovative teaching practices. “I’m delighted with the quality of the 39 projects that have won funding in the first round of the Teacher-led Innovation Fund worth a total of about $2.6 million,” says Ms Parata. More>>

ALSO:

Generation Zero: Skypath Granted Resource Consent

Generation Zero is delighted and relieved that the ‘Skypath’ walking and cycling addition to the Harbour Bridge has been granted resource consent. More>>

ALSO:

Housing: Two New Auckland Special Housing Areas

Two new greenfield Special Housing Areas (SHAs) that will provide up to 1800 new homes in Auckland have been announced today by Building and Housing Minister Dr Nick Smith and Mayor Len Brown. More>>

ALSO:

Royals: The Prince Of Wales And Duchess Of Cornwall To Visit

Prime Minister John Key welcomes today’s announcement that the Prince of Wales and The Duchess of Cornwall will visit New Zealand in November. This will be the second joint visit for Their Royal Highnesses to New Zealand. More>>

ALSO:

Tracey Martin Replaced: Ron Mark Is New New Zealand First Deputy Leader

Clayton Mitchell was the successful candidate for the Associate Whip position. Winston Peters was re-elected as Leader by the Caucus. Ron Mark was elected as the Deputy Leader with effect from 10am, Friday, 3rd July. More>>

ALSO:

Rebuild Rebrand: "Regenerate Christchurch" To Replace CERA

The regeneration of Christchurch will be the city’s focus for the next five years as local leadership progressively takes control of the rebuild, Canterbury Earthquake Recovery Minister Gerry Brownlee says. More>>

ALSO:

Nauru: Scholars Urge Minister To Act On Deteriorating Democracy

“Since the 2013 election in Nauru, there has been a series of disturbing developments on the islands that indicate a severe deterioration in the state of its parliamentary democracy and in the rule of law,” say the scholars. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news