June 12, 2023
Filipaina wise to airport share bait and switch
Auckland Councillor Alf Filipaina isn’t buying a so-called compromise on the sale of Auckland Airport shares.
Councillors will resume discussions today on Mayor Wayne Brown’s first budget.
Mr Filipaina says the mayor knew he didn’t have the numbers, so he pulled out an alternate proposal to sell just under half the shares.
That may get some councillors over the line, but it doesn’t address the fundamental argument against selling revenue-producing assets to fix a short-term budget problem.
“Our Maori and Pacific communities in Tamaki Makaurau, especially the old Manukau (City Council) days, they were always, always supportive of keeping those shares because we got the dividends. It’s sad they’re using Covid and saying ‘we didn’t get that much dividends,'” Mr Filipaina says.
He says with less than $12 billion of debt against a $70 billion asset asset base it makes sense for the council to increase its borrowing.