The programmed increase was previously 9.5% but the ending of Three Waters meant that this was not going to happen. The Three Waters reform also proposed balance sheet separation although in Three Waters’ case the entities would have been larger and four of them would have covered the whole country. It should be noted that under S&P’s evaluation of the effects of the Three Waters Reform on Auckland Council’s credit rating would have increased from AA to AA+. National’s alternative approach means a lower credit rating for Auckland Council and a lower credit rating for Watercare. And Watercare’s latest Statement of Intent states this:Watercare is an active member of the Māori Outcomes Steering Group.

Source: Otago Daily Times May 06, 2024 08:55 UTC