28 Jul 2010

Govt dragging its heels over bond bank - Goff

6:09 am on 28 July 2010

Opposition leader Phil Goff says the Government is dragging its heels in setting up a local government bond bank.

Mr Goff says the system would be a win-win for local government and New Zealanders, as it would offer a safer way to save while giving councils access to funding to build much-needed infrastructure.

A bond bank was recommended by the Capital Markets Development Taskforce last year.

Mr Goff says $5 million has been set aside to establish a bank, but the Government has done nothing else about it.