Wellington Council’s decision to sell its 34% share in Wellington Airport may put rates up in the future.

The highly contested decision to sell the shares has passed - and the proceeds will be invested in a perpetual fund.

At least three councillors, who previously agreed to sell the shares, now say they've changed their minds - and the move to sell would fail if a vote happened today.

Mayor Tory Whanau has been criticised from fellow left-leaning councillors for supporting the sale.

Wellington Councillor for Takapu/Northern Ward, Ben McNulty, told Tim Beveridge “My progressive colleagues ran on a platform on opposing the privatisation of our assets.”

McNulty said “Wellington is not a very diversified city compared to Auckland and Christchurch.”

He said “We have rates, parking and the airport.”

“The investment fund will not return anywhere close to the airport, because it has to be a green fund.”

LISTEN ABOVE.

Wellington Council’s decision to sell its 34% share in Wellington Airport may put rates up in the future. 
The highly contested decision to sell the shares has passed - and the proceeds will be invested in a perpetual fund. 
At least three councillors, who previously agreed to sell the shares, now say they've changed their minds - and the move to sell would fail if a vote happened today. 
Mayor Tory Whanau has been criticised from fellow left-leaning councillors for supporting the sale. 
Wellington Councillor for Takapu/Northern Ward, Ben McNulty, told Tim Beveridge “My progressive colleagues ran on a platform on opposing the privatisation of our assets.” 
McNulty said “Wellington is not a very diversified city compared to Auckland and Christchurch.” 
He said “We have rates, parking and the airport.” 
“The investment fund will not return anywhere close to the airport, because it has to be a green fund.” 
LISTEN ABOVE.

Don't miss a thing while you're on holiday, with Tim Dower and Newstalk ZB Holiday Breakfast. Tim delivers the best in news, views and opinion to keep Kiwis informed and entertained while you're on the road, at the bach, or relaxing at home.

Don't miss a thing while you're on holiday, with Tim Dower and Newstalk ZB Holiday Breakfast.

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