The long-term investment fund for the benefit of current and future Aucklanders will be protected, with the Auckland Council (Auckland Future Fund) Local Bill passing its first reading in Parliament this afternoon, says National’s MP for Mt Roskill, Dr Carlos Cheung.

“Aucklanders could benefit from the Future Fund, with returns to be allocated as revenue to Auckland Council to fund services, infrastructure and put downward pressure on rate increases. The remainder will be reinvested for the benefit of Auckland’s future,” says Dr Cheung.

“The Bill aims to strengthen Auckland’s financial future by reducing reliance on rates and boosting investment in infrastructure and services. The Auckland Future Fund diversify investments, helping safeguard assets financial security and potential rates relief for ratepayers.”

The Bill provides a clear governance framework for managing the fund and requires at least 75% support from the Governing Body to withdraw capital. This helps ensure any distributions are made in the best interest of Auckland’s current and future communities.

“I thank Auckland Mayor Wayne Brown for inviting me to sponsor this Bill on behalf of Auckland Council, and Councillor Christine Fletcher for her support. It’s an honour to help protect Auckland’s financial future, and I look forward to families in Mt Roskill and Auckland benefiting from this fund, now and in the future,” says Dr Cheung.

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