Bay of Plenty Paves Way for Councils to Sell Off Their Assets as Rates Soar

Responding to reports that the Bay of Plenty Regional Council plans to sell half of its shares in the Tauranga Port, Taxpayers’ Union Campaigns Manager, Connor Molloy, said:

“This is a sign that Bay of Plenty regional councillors have their finger on the pulse and are putting ratepayers first. Councils all around the country should be taking the opportunity of the cost-of-living crisis to sell off assets and deliver rates relief to families.

“But the council should go further and sell their entire stake in the port, rather than just some of the shares. Councils have no business in owning ports. If ratepayers wish to invest in the port personally they are free to do so, there is no reason why the council would be able to invest ratepayers’ money better than ratepayers themselves.

“As they propose some of the highest rates rises in New Zealand history, Christchurch, Wellington, Hamilton and others should also be making asset sales and reminding themselves that they should be putting the livelihoods of their ratepayers first.”