Bold action needed for Napier Port expansion

Napier Port directors must lobby government for expansion funding from the Reserve Bank, Democrats for Social Credit Party Leader Stephnie de Ruyter today told a meeting of Hawke’s Bay members in Napier.

Ms de Ruyter said that the partial sale of a ratepayer-owned strategic asset would be a shortsighted move which would reduce future opportunities for expansion, and should be off the table when funding options are considered.

"While a partial sale now would provide funds for the planned expansion, there must be concerns about where directors obtain funding for any future plans. Sell another stake? Fully privatise? It’s a slippery slope.

“The significant investment required for a new wharf and associated infrastructure is essential to the region’s economic development and ought to be funded directly by government through the Reserve Bank, without interest and at the cost of administration only.

“Historically, Reserve Bank funding of infrastructure development has built houses, bridges, roads, hospitals, and schools in New Zealand. Building and maintenance of infrastructure is more affordable, and can be achieved without any level of privatisation. Communities benefit from the retention of full ownership in strategic assets.

“The Port is a success story which pays a substantial dividend to the Hawke’s Bay Regional Authority. The expansion is needed to meet demand driven by export growth. The economic benefits to the region will be considerable.

“If the government is serious about supporting regional development, the expansion of Napier Port offers an ideal project to deliver on government rhetoric.

“Reports to date suggest that ratepayers are being softened up for a partial sale of Napier Port to fund the expansion. Thankfully, chairman Alasdair MacLeod has stated that directors intend to look at all options. I urge Mr MacLeod and the Napier Port directors, as well as the Hawke’s Bay Regional Investment Authority, and the Hawke’s Bay Regional Authority to act boldly on behalf of rate-payers and put a strong case to the government for Reserve Bank funding.”

ENDS

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