Cash (for the rich) in Auckland’s attic?

• John A
• 15 years ago
• Categories: uncategorized

The soften up for the next big fire-sale of Kiwi assets is well under way in Auckland, as Rogernomics morphs into Rodneynomics.

On Tuesday 16th June the Herald published a special section “Project Auckland” sponsored by a number of companies including Deloitte’s.

In it was an article by Fran O’Sullivan called “Cash in Auckland’s attic” which began: “Should Council’s consider realising their assets rather than hanging on to them?”

Fran quoted analysis produced by Deloitte’s at the Herald’s request.

Some of Deloitte’s suggestions:

• sale of all or part of its interest in Ports of Auckland – $588 million
• sale of 19.9% stake in Northland Port – $23.5 million

“all or part of the capital “burden” of hese assets could be transferred to the private sector through PPP or concession arrangements:

• sale of interest in Auckland International Airport – $248million
• sale and leaseback..for all or part of the wastewater and water assets with a current value of $1.1billion.”

Funny how big money is a burden when it doesn’t belong to the rich. I wish.

But it makes it clear why Mark Ford is in charge of getting Auckland ready for sale.