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NBR: Ratepayers underpin vested interests’ development ambitions

May 16, 2014    Not Saying

With all the focus on yesterday's budget we nearly missed this piece in yesterday's NZ Property Investor.

Ratepayers underpin vested interests’ development ambitions

The Taxpayers' Union says councils around the country are not telling ratepayers about the cost of capital that ratepayers are underwriting for local authority subsidies.

Jordan Williams brought up the issue in relation to Greater Wellington Regional Council and losses arising from its subsidiary CentrePort as a result of earthquake damage last year.

Click here to continue reading (requires NBR subscription).

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