° °
  • The Paul Henry Show - TV3 New Zealand

    Paul Henry

    Weekdays 6am

  • 3 News - TV3 New Zealand

    3 News

    Nightly 6pm

  • Newsworthy - TV3 New Zealand


    Weeknights 10.30PM

  • 3D - TV3 New Zealand


    SUNDAYS 6.30PM

  • Three 60 - TV3 New Zealand

    Three 60

    Sundays 9.30am

  • The Nation - TV3 New Zealand

    The Nation

    Sat 9:30am / Sun 10am

Christchurch City Council refuses to sell assets

Wednesday 27 Feb 2013 11:37 a.m.

Christchurch Mayor Bob Parker

Christchurch Mayor Bob Parker

The Christchurch City Council has confirmed it will not sell its assets to fund the city's earthquake repairs, opting instead to increase rates.

The council voted yesterday to adopt a draft three-year plan for consultation with a rates rise of 6.7 percent a year.

But Mayor Bob Parker is not ruling out the chance of asset sales in the future.

“That’s our community’s business and if we as a city are collectively decided that was the best decision to make, that would be a big community discussion,” he says.

“At this point we don’t have financial need to do that, our books are strong.”

But there are still calls from local authorities to not rule out selling the city's assets - which include the Port of Lyttelton and Christchurch international Airport.

CEO of Canterbury Employers Chamber of Commerce Peter Townsend says it makes sense to sell.

“We’ve been saying for a long time that they should look at all options with respect to funding their share of the recovery,” he says.

“If that’s asset sales that should be closely investigated, all we’re asking for is that the council be transparent in that process.”

That rates increase could include a special earthquake charge to help off-set a loss of income for the council.


Others Are Watching

comments powered by Disqus