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Press Release
Wood vows to protect city's assets

1 August 2007

Megan Woods took her bid for the mayoralty into arch-rival Bob Parker-territory yesterday, when she announced 2021's policy on asset sales in
Lyttelton.

Aboard the Tug Lyttelton, Dr Woods said a 2021-led city council would "protect the family silver", keeping ratepayer-owned assets like the port, Christchurch Airport, Red Bus Company and City Care in city council ownership.

But she deflected any possible hint the trip to the port was to also give Cr Parker a blood nose.

The race to fill Garry Moore's mayoral office has so far been sedate.

"It s a political campaign and it's right across Christchurch. Bob is more than welcome to come and campaign where I live in Spreydon," she said.

"It (the port) is a highly symbolic site as it was one of the assets that was put at risk in the current (city council) term." Last year the city council's investment arm CCHL attempted to sell a 49.9% shareholding in Port of Lyttelton to Hong Kong port giant Hutchison Port Holdings (HPH).

Public pressure and protest led to a major U-turn by CCHL.

Cr Parker who was mayor of Banks Peninsula at the time, and now represents Banks Peninsula on the city council, said he would have voted in the interest of the community on the port issue.

"I would not consider the sale of any strategic asset unless directed to do so by the community, in fact it makes no sense for the community to part with any asset that is producing a solid return in the form of a rate reducing income," he said.

"However, a responsible council must be prepared to robustly examine all of its commercial assets from time to time to ensure that they represent continuing value to all citizens.

"For me certain types of assets have an even 'deeper' social and historic strategic value - our airport, port and the land it is built on, public wharf structures around the city and peninsula, recreational reserves and publicly owned heritage buildings are legacy items - in my opinion they are not for sale."

Dr Woods said assets like the port help to keep rates down and any short-term financial gain from their sale would be detrimental to the city's future.

"The income stream from the publicly owned companies contributes over $30m a year to the council's coffers, this helps to keep our rates down by 15%-plus each year.

"As well, returns of capital and special dividends to the council of over $450m over the last 11 years has provided money for council to fund other projects. If we sell these assets this money will need to come from somewhere - and that will be the ratepayer," she said.

For further comment contact:
Megan Woods - 2021 Candidate for Mayor
Mobile: 027 669 0457
Email: megan@megan4mayor.com