Central government policy churn drags down local government credit ratings

Central government policy churn drags down local government credit ratings
The back and forth over three waters policy is one of the things making council finances unpredictable. (Image: NZME)
Jem Traylen
S&P Global Ratings says its recent downgrading of the institutional framework for local council borrowing is “a big deal”, and both central and local governments are to blame.It told BusinessDesk that successive Governments had created an unpredictable policy environment, especially with the back and forth on three waters and the Resource Management Act (RMA).It also pointed to a structural issue that had been building in local government finances, which the central Government’s approach to reform was too “piecemeal&...

More Finance

PEP seeking payday from UP Education
Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 23 Apr 2025
FNZ extends controversial catch-up offer
Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025
The cost of over-regulated banking: $10b to $14.4b a year
Finance

The cost of over-regulated banking: $10b to $14.4b a year

Critics claim a huge annual cost from 30 years of regulatory creep.

Pattrick Smellie 16 Apr 2025
Blackbull backs Eden Bradfield into Elevation funds
Finance

Blackbull backs Eden Bradfield into Elevation funds

The Christopher Swasbrook-established fund gets new investors and portfolio manager.