Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Asset recycling: a smart option for Christchurch & Auckland

1 August 2014

Asset recycling - a smart option for Christchurch and Auckland

“The Christchurch and Auckland councils should embrace the highly successful asset recycling approach employed in Australia to alleviate community concerns over needed asset sell-downs,” says Stephen Selwood CEO of the New Zealand Council for Infrastructure Development.

“Asset recycling – partial or full sell-down of capital in existing assets to fund identified new assets for the community – has been used successfully in Australia to deliver much needed investment in the face of initial public concern.

“For example, the sale of Newcastle Port was eventually embraced in New South Wales after it was made clear that proceeds would be directed into infrastructure and the rejuvenation of Newcastle city.

“The public were thus able to consider in a tangible way whether they wanted a revitalised central city and new and better infrastructure or maintain ownership in the port.

“This approach is a smart alternative for ratepayers in Christchurch and Auckland and was highlighted by Cameron Partners in their report on options for managing Christchurch’s financial challenges, released today.

“By recycling capital tied up in existing assets Christchurch will improve its capacity to invest in a productive, innovative and world-class city.

“The Auckland Council could accelerate investment in much needed transport infrastructure by doing the same.

“What local communities demand is transparency. They need clear understanding of what assets will be sold, where and how the money will be reinvested, and what the social and economic payback will be. What the national community demands is that locals contribute fairly towards projects which call upon national resources but which also have significant local benefits.

“Asset recycling gives the community this choice. If Australia is anything to go by, politicians will be pleasantly surprised at the level of community support for asset recycling, provided the benefits exceed the costs,” Selwood says.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

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

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news