21.8 C
Auckland
Thursday, December 5, 2024

Popular Now

Wellington Council halts sale of airport shares

Wellington Airport sale news
Image – Google Maps.

Wellington city councillors voted nine to seven to pause the sale of the council’s 34% stake in Wellington International Airport, a plan initially aimed at establishing a perpetual investment fund to aid disaster recovery and reduce borrowing.

Despite recommendations from council officials, the sale faced opposition, with councillors concerned about the long-term implications and pushing for alternative solutions. Mayor Tory Whanau, though not in favour of halting the sale, acknowledged the decision and warned of potential cuts to the council’s capital program, including significant infrastructure projects.

The council’s public gallery was packed with Unions Wellington members urging against the sale.

Now council officers must develop new long-term plan amendments, with options ranging from full or partial sale to no sale at all.

A full community consultation will follow, with final decisions required by June next year.

Officials had initially recommended the sale to diversify the city’s investment portfolio and address its $2.6 billion insurance shortfall in case of a major natural disaster.

Promoted Content

No login required to comment. Name, email and web site fields are optional. Please keep comments respectful, civil and constructive. Moderation times can vary from a few minutes to a few hours. Comments may also be scanned periodically by Artificial Intelligence to eliminate trolls and spam.

6 COMMENTS

  1. Wellington appears to be well involved in an advanced state of confusion and decay
    Virtue signalling impending collapse
    And no wonder with a what-not Mayor who had absolutely no experience in administration skills when elected
    And intends on running again?
    Perhaps some of those suffering now were some who voted for this person or this rag tag fleet of divorced from reality side show?
    There appears to be a distinct lack of leadership skills being exhibited and magnified overflowing into the green tainted camp of Councillors
    From where the Mayor came
    And off course there is the added stigma of a racial quota a much vital and integral requisite in any administration in NZ
    A.k.a baggage
    The same people who had forestry and fisheries written into the Treaty of Waitangi to their own devices and advantage
    Wokeism in full on frontal display
    Truth in plain sight
    How do You want to put it
    Go woke go broke
    Which appears to be what is happening

  2. Create a problem – Then a solution.

    $2.6 Billion short fall options.

    1. Increase rates.
    2. Increase fines and penalties.
    3. Increase permits and consents.
    4. Increase compliance and regulations that have to be paid for.
    5. Make people pay more for services like swimming pools, sports fields, playgrounds, museums.
    6. Increase parking fees.
    7. Paint the words “Bus Lane” on the road for buses that use about every 10 to 30 minutes, video people and give them crippling fines in a depressed economy. Make the people struggle and cause more difficulties in their lives.
    8. Stretch out maintenance and upkeep of council property and facilities like pipe leaks, replacement
    9. Shelve expansion of land to use.
    11. Overcharge developers and create expensive and unnecessary regulation that leads to more fees.
    12. Borrow money for the next round of council members have to deal with.
    13. Right now i the council charges $55,000 for a few hours to install water, sewer and other services on to a new Wellington section. Is the council going to increase this too?

    All of the above will never quench $2.6 billion or even reduce it.

    The real issue is unqualified people are running multi-billion business. They are incompetent to handle this situation.

    Their solution will be.
    Universal wage, world digital currency, digital I/d and 15 minute cities.

    • You can’t keep on bleeding people and businesses dry
      Nor continue to sell off the family silver to mask Your own incompetency
      You can’t keep kicking the can down the road
      If there is any hope it has to come through strong bold White decisive leadership
      A start may be spilling some air in downsizing and start tendering out contracts for Council affiliated works and projects
      In the meantime a Commissioner needs to be appointed to wrench back control from these delusional pretenders masquerading behind the facade of Council before they kill the golden goose and everybody goes broke

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Trending

Sport

Daily Life

Opinion

Wellington
scattered clouds
21.8 ° C
21.8 °
21.8 °
73 %
12.4kmh
40 %
Thu
21 °
Fri
17 °
Sat
18 °
Sun
18 °
Mon
19 °