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:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news