Wednesday, November 27, 2013

$100 million windfall for the Auckland City Council from the airport---a message for the Government maybe?

The news today the Auckland City Council is going to receive a $100 million windfall from its share of the dividend paid from the airport profits is good news, for the airport and the Council. That money can go quite a way for infrastructure and to helping to keep the rates rise to a minimum for those who hold that as a holy grail.
It also sends a clear message to the Government, who have either sold or are about to sell (despite any strong message they get from the current referendum on the issue) Sate Assets. The airport has and will probably continue to be a convenient cash-cow for the Council, even when one takes into account the cyclic nature of such profits. Sure State Assets can be seen in the same light. In good times such assets pay strong dividends and when things are not so good, they can act as a cushion to the negative aspects of pricing when it tends to head upwards.
It is short sighted, merely a short term quick fix by a narrowly fiscally driven and social irresponsible Government, that listens only to its allies in big business. If we wish all NZers to benefit from our economy then we should spread ownership of strategic assets, not concentrate them in the hands of an ever shrinking pool of ‘sharks.’
If you live in New Zealand, you would have received your chance to say ‘NO!” in the form of the referendum papers.’ If you do not vote (or worse, vote in favour of the Governments plans to ‘corporatize’ NZ, then you are selling us all down the tubes. Get that paper out now and stick your tick in the NO box. It only takes a few seconds to make sure that future New Zealanders do not look back on this time in our history and condemn us for our lack of action and our allowing a Government to ride roughshod over us. Take a good hard look at those who favour selling off that which we have all paid for. Let’s keep ownership in New Zealand hands and believe nothing that the National Government tells us about ‘Mum and Dad investors. ‘
Let the Auckland Airport success story be a shining light and lest make sure that no more of that Asset is sold off---that too is just around the corner!