4 Jul 2012

Chamber wants council to consider selling assets

1:57 pm on 4 July 2012

A Christchurch employers' organisation says the city's council must reconsider its position on selling assets, so ratepayers are not forced to fund a multi-million dollar payout to Port Hills land owners.

The Government is to contribute 50% of the $205 million bill to buy out the 285 red-zoned properties in the suburb.

A cost share has been budgeted for in the Christchurch City Council annual plan, though mayor Bob Parker says no payment split has been finalised.

Canterbury Employers' Chamber of Commerce chief executive Peter Townsend says the council is relying too much on borrowing and not leaving any leeway in its budget.

Mr Townsend says residents are facing continued rate increases and council debt that will be passed on to future generations.