Auckland's Mayor is looking for more bang for his buck as he looks to sell off Port of Auckland's operating business.

Wayne Brown's put forward two options for the port in his proposed 10-year budget, which also includes a rates rise of 7.5%.

Either keep the business, gradually releasing land for public use, or sell the operating lease to raise up to $3 billion for an investment fund.

Brown told Mike Hosking that the port is a very poor financial performer.

He says by putting it into a fund, they'd be taking value and putting it into something more valuable as the returns from the port and airport don't cover the costs of owning them.

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Auckland's Mayor is looking for more bang for his buck as he looks to sell off Port of Auckland's operating business.
Wayne Brown's put forward two options for the port in his proposed 10-year budget, which also includes a rates rise of 7.5%.
Either keep the business, gradually releasing land for public use, or sell the operating lease to raise up to $3 billion for an investment fund.
Brown told Mike Hosking that the port is a very poor financial performer.
He says by putting it into a fund, they'd be taking value and putting it into something more valuable as the returns from the port and airport don't cover the costs of owning them.
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...