Latest / The Kākā by Bernard Hickey
S&P downgrades 18 councils, blaming Govt
Mōrena. Long stories shortest: Standard & Poor’s has cut the credit ratings of 18 councils, blaming the new Government’s abrupt reversal of 3 Waters, cuts to capital grants & new unfunded mandates. The downgrades, with the potential for one more cut for Wellington Regional Council, Wellington City Council and Dunedin City Council, are likely to increase interest costs for ratepayers and restrict their ability to invest in the infrastructure the Government says is needed to grow GDP faster.
Also, weeks after PM Christopher Luxon said he wanted to ‘go for growth’ in 2025, large parts of the…
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