Manukau Ward councillor Alf Filipaina speaks to Mihingarangi Forbes about why he opposed the sale of the Auckland International Airport shares and what it means to South Auckland. Then we discuss the latest in politics with Stuff political reporter Glenn McConnell and commentator Shane Te Pou.
Manukau Ward councillor Alf Filipaina told Mata it was important to keep the council's Auckland Airport shares, which it recently agreed to sell part of, within New Zealand.
Last week, Auckland Council voted to sell 7 percent of its shares in Auckland Airport, reducing its stake to 11.1 percent as part of a plan to reduce its debt and limit rate rises.
Mayor Wayne Brown's second compromise proposal was passed 14 votes to six, with one abstention.
Some of the councillors who voted in favour of the sale expressed reluctance, noting they did not want to sell the shares, but were voting for other parts of the mayor's budget.
"I don't feel happy but it is what it is," Filipaina told Mata.
"Those that voted not to sell partial or full sale - we were always adamant that that is the line because of benefits that we can see, not only for our whānau now, but our younger generations and generations to come."
During the council debate on 9 June, Filipaina asked for the council's current headroom in its debt-to-revenue ratio, and was told there was about $2 billion to go before it reached its 290 percent cap.
Credit rating companies Moody's Investor Service and S&P had informed the council up to $140m could be borrowed without affecting the council's ratings, Filipaina said.
"We have a debt of just I think on $12 billion, but we've got an asset of about $70 billion and they're the ones that said yes we should, we've got no problems around the 140 million [being borrowed].
"This is our airport, Aotearoa's airport so therefore then we should be keeping as much of a stake in the airport."
He said it was important to support any New Zealand groups, such as mana whenua or Waikato-Tainui, to ensure those shares stay within the country and did not go offshore.
The council had previously increased its shares to avoid a majority stake bid in 2007 by Dubai Aerospace Enterprise, he said. An attempt by a Canadian pension fund to take a 40 percent stake in 2008 was vetoed by the then Labour government.
"But now, I don't know whether we've got a blockage percentage, that's a shame. It has impacted on our community. The emails and texts I'm getting, they are definitely angry and frustrated."
The Pacific community had been contacting him about holding on to the shares, he said, adding that he believed many airport workers were from South Auckland.
