Tuesday, December 20, 2011

I Smell Another Non-Story Here

Auckland City Council is to LEND the NZTA $100m to ensure the timely completion of a number of roading projects. Apparently the NZTA has run out of funds.

Here's the headline which might have been accurate if the money was a grant.

Auckland ratepayers to hand NZTA $100 million loan

We are not told what interest rate applies to the loan and one can presume it will not be interest free. Of course this story begs the question of how it comes to pass that Auckland City Council just happens to have a spare hundy mil sitting about ready to be lent on the commercial market.

Rates a bit too high perhaps?

I doubt some of these TVNZ journalists who shill for Labour could make a living selling used cars.

2 comments:

macdoctor said...

The Auckland City Council will borrow the money and the cost to the taxpayer will be the interest on that amount - probably about 10 mill spread over two years. Of course, the REALLY amusing thing about this story is that most of the projects involved would have been costed by the previous administration.

Redbaiter said...

Incorrect use of "begs the question".

What you mean is "raises the question".

This is not the same as "begs the question".

No charge for the English lesson.