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:

Gordon Campbell: The PM’s Hair-Pulling Power Trip

There have been striking differences between (a) the account of the waitress involved in the hair-pulling incidents, and (b) the account being given by Prime Minister John Key. The version by the waitress is available here and is recommended to anyone yet to read it. By her account, there were multiple instances of hair-pulling and these persisted and persisted long after she had made her annoyance clear to Key – who had also been advised by his wife, and by other café staff that the behavior was evidently not being welcomed. More>>

ALSO:

War: What’s To Commemorate?

Gordon Campbell in Werewolf: Is there anything that can be validly commemorated on this 100th anniversary of Gallipoli? Beyond, that is, a fleeting sense of empathy with the thousands of soldiers killed or wounded on April 25 1915 and in the months thereafter, until the whole thing was finally called off in December 1915. More>>

MORE IN WEREWOLF:

ALSO:

Peter Ellis Case: Minister Declines Request For Commission Of Inquiry

Justice Minister Amy Adams has declined a request from supporters of Peter Ellis for a Commission of Inquiry on the basis that an inquiry cannot be used to determine the liability of any person. More>>

Quakes: New Process For Red Zone Crown Offers

Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

ALSO:

Gordon Campbell: On The Battle Obama Is Waging Over The TPP

For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

ALSO:

Greens: Govt Breaks Free Doctors Visit Promise To Kids

Documents obtained by the Green Party show that the Government decided to fund only 90 percent of doctors’ visits for children suffering from an injury in an attempt trim the cost of the so-called “free” visits. More>>

ALSO:

Other Wars: Extension Of NZDF Commitment In Afghanistan

The New Zealand Defence Force’s commitment of mentors and support staff to the Afghan National Army Officer Academy in Afghanistan has been extended out to December 2016, Defence Minister Gerry Brownlee says. More>>

PM's Press Conference: Auckland Property Prices Increasing "Too Rapidly"

John Key accepted that Auckland property prices 'are going up too rapidly” in a press conference held today in Wellington, however he said that this is not anything new. More>>

ALSO:

Press Conference: ANZAC PMs Concerned About ISIL Bringing The War Home

Prime Minister Key and Prime Minister Abbott spoke of the bond formed between Australia and New Zealand in the “baptism of fire” of Gallipoli. Abbott stated that New Zealand and Australia’s values and interests are linked, and this is reflected in the joint operation in Iraq which will begin shortly. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news