Crone has issued this media release
It turns out Auckland Council has been busy with your money, again.
The council set up its own investment division with a cool $320 million on hand to throw into a range of funds in New Zealand and offshore. Clearly, this Council thinks having up to $320 million in offshore investment vehicles is a better investment than solving critical housing and traffic issues that Aucklanders face every day.
It gets worse.
The Council didn’t even know where the investments were until Radio New Zealand conducted an investigation which identified that one of the funds:
…holds shares in the world’s biggest soft-drink manufacturer Coca-Cola, the chocolate and confectionary giant Hershey’s, the international coffee chain Starbucks and British American Tobacco. [The fund] also invested in two of the world’s biggest alcohol companies SABMiller and Pernod Ricard.
And yes, that same council is investing in British American Tobacco and is the same council banning smoking in public spaces. It’s also the same council considering a proposal to strengthen its smoke-free policies this week, and it’s the same council that last week banned all sugar-sweetened drinks from vending machines at its 21 leisure centres in order to “show leadership in the battle against obesity and type 2 diabetes”.
This is not leadership.
This happened because Auckland Council has a culture of waste, unaccountability and incompetence that has been left to fester for six years.
This should never have happened but we can end that culture. When I am your Mayor we will open the books, cut $500 million in back office waste, and invest in the infrastructure that our city needs as it grows.
We will turn this around, but I need your support and your vote.