9 Jun 2023

Airport shares remain sticking point in city's Budget debate

From Morning Report, 6:45 am on 9 June 2023

Auckland councillors will have another go today at signing off the city's controversial budget after a major concession from the Mayor over the sale of airport shares.

The council failed to get to a vote yesterday but Wayne Brown has a new proposal - selling just eight percent of the shares instead of the entire 18 percent.

It'll mean more spending cuts and a rates hike of 7.7 percent - more than the rate of inflation.

It's unclear whether the compromise is enough.

Emma Stanford has the story.