Source: Council of Trade Unions – CTU
NZCTU Te Kauae Kaimahi President Richard Wagstaff backs the thinking of 74% of Wellingtonians in rejecting the airport privatisation.
“This is an important public asset, and the council share has reliably generated returns for Wellingtonians. In the last year alone, it generated $20.4m,” said Wagstaff.
“The best thing we can do is maintain control over a public monopoly like the airport to make sure that it is run in the public interest.
“There has never been a financial case for the sale, and the poll shows that there is no popular demand for it either.
“Instead of selling our shares, we should be using our shareholding and presence on the board to make sure that the airport is great employer, is committed to decarbonisation and that it continues to be great public asset for the benefit of Wellingtonians.
“Under the companies act our 34% shareholding prevents the airport from making any strategic decisions that would harm Wellingtonians. It also gives us 1/3 of all seats on the board.
“The privatisation of assets in Christchurch and the ports of Auckland have been rejected by Councillors there because they don’t stack up. It doesn’t stack up here either and Wellington council should follow their example by voting against a share sale that there is no mandate for.
“As a nation, we need to secure our future through building economic resilience and a just transition to a low-emissions economy. That means keeping public assets in public ownership,” said Wagstaff.
