Ports of Auckland must not be sold - Greens

At a time of economic crisis selling vital strategic infrastructure such as the Ports of Auckland to 'buyers unknown' would be a foolhardy and stupid short-term move that would undermine New Zealand's long term economic wellbeing, said the Green Party.

"Selling New Zealand's largest port operation when asset prices are severely devalued would be fiscal madness. This is the kind of economic thinking that led to New Zealand selling our rail infrastructure in the 1990s. And we all know how well that worked," said Auckland Green MP Sue Bradford.

''The suggestion by Ports of Auckland board chairman Gary Judd that this is the right time to consider privatisation flies in the face of common sense and would see the Auckland Regional Council (ARC) looted of one of its key assets."

Green Party Local Government spokesperson Sue Kedgley added. "The Green Party is concerned that the agenda behind the restructuring of Auckland's local governance - aimed at disestablishing the ARC - would open the way for privatisation of key assets like the Ports of Auckland or Auckland's water supply. Today's proposal from Mr Judd shows the need to be vigilant."

"At a time when the Government itself is bailing out finance companies and considering strategies to rescue iconic New Zealand companies, it is bizarre for anyone to be considering selling off Auckland's port company."

"Are we planning a return to the policies of the 1980s and 1990s? What happened then was that key strategic assets - vital for the New Zealand economy - were flogged off cheaply, and then run into the ground by their new owners as profits were hoovered up by overseas companies. And let's not forget that thousands of workers lost their jobs," said Ms Kedgley.

Ms Bradford said the Green Party fully supports ARC chairman Mike Lee in his determination to keep the company in public hands.

ENDS

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