The sale of shares in Auckland Airport and Ports of Auckland will be included in a wide-ranging review of new financing sources for Auckland Council.
The finance committee has today voted 16-3 for a review of financing sources, including partial or full sale of assets, leasing arrangements and outsourcing opportunities.
Mayor Len Brown supported the review but repeated his long-standing opposition to the sale of strategic assets like the port and airport shares.
Councillor Cathy Casey, who with Mike Lee and John Watson opposed the review, was concerned the review would include assets like pensioner housing, libraries and community centres.
The right-leaning Howick councillor Sharon Stewart said the former Manukau City Council she was a member of had held onto its airport shares.
"If Manukau had of sold the shares we would have ended up spending it on a whole lot of frivilous things and been in a really worse place than we are today,"she said.
The review will be undertaken by two private advisory firms and reported to councillors in November behind closed doors.
