The revised Three Waters policy gives councils more control but dilutes the rationale for reform and could increase the cost of colossal infrastructure upgrades. Local Government Minister Kieran McAnulty’s revised ‘Affordable Water Reform’ attempts some sort of magic trick, or perspective illusion, to achieve this. Governance conundrumThe revised reform would see local water assets divided between 10 management entities, drawn primarily from regional council boundaries. Saving for someThe Government has repositioned the revised Affordable Water Reform as something that will save ratepayers’ money. Manji said bond investors will want the Crown to underwrite these water entities, but would still demand a premium over regular government bonds.
