Goff and Tamihere Are Both Wrong. (But Bernard Hickey Is Right On The Money.)
The alternative to state funding of infrastructure is, of course, to fund it by taking on massive amounts of private debt. On this issue, at least, Tamihere has some solid points to make. In his own colourful turn of phrase, Goff and the Auckland Council have “maxed-out the credit card”. If the City is to preserve its international credit rating of AA, then it simply cannot afford to take on any more debt. What’s more, the rest of the country cannot afford for Auckland to take on any more debt.
