Private investors to make a killing From Auckland Transport Projects

A must watch on this topic is Joan Veon’s ‘Public Private Partnerships’:
PUBLIC PRIVATE PARTNERSHIPS ARE AN ARM OF THE WORLD’S GROWING CORPORATOCRACY & THEIR BOTTOM LINE IS TO TAKE CONTROL OF THE ASSETS OF GOVERNMENT … JOAN VEON


 

From democrats.org.nz

Labour buddies Phil Twyford and Phil Goff have unleashed a stampede of financial pariahs who will be jostling for a share of the profits from financing the $28 billion in Auckland transport projects they jointly announced on Thursday.

Despite having promised before the election to stop the Public Private Partnership schemes of the previous National government, this latest announcement goes even further down the road of privatising new assets.

The new transport projects will be financed by combination of PPPs and Crown Investment Partners, a government owned PPP scheme in disguise, “which is all about introducing outside capital and attract[ing] co-investment from the private or other sectors”.

Labour used to be the party for the workers but it has just proved it really has turned into a party that shovels taxpayer money into the pockets of the rich, the overseas banks, and the international money shufflers. 

Their big profits will be coming straight out of taxpayer’s pockets, who will effectively rent the new transport facilities, having to pay for the construction of the projects and a premium for the lender’s profits.

READ MORE

https://www.democrats.org.nz/News/NewsItem/tabid/119/ArticleId/5667/Private-investors-to-make-a-killing-From-Auckland-Transport-Projects.aspx

4 thoughts on “Private investors to make a killing From Auckland Transport Projects”

  1. Does that make any difference to end result though than the normal method? Here in Kapiti wealthly contractors are given very lucrative contracts at vastly inflated prices: in Waikanae replacing about 150 sq metres of asphalt with fancy paving is cost $500,000, a plan to create an emergency second level crossing over the railway line involving dumping 50 or so truckloads of shingle is costing $300,000… the ratepayers foot the bill including the interest on the borrowings to pay these ridiculous fees to the contractors.

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