Fiona Rotherham at Stuff reports:

Chinese investors have shown encouraging interest towards the Auckland Council’s planned $10.8 billion worth of infrastructure projects and other trade and investment opportunities, Auckland Mayor Len Brown says. …

But the council has also been touting for early stage interest in three of its own major projects: the inner city rail link that central government has rejected funding for; a second harbour crossing; and for the new Innovation precinct in the Wynard Quarter on Auckland’s waterfront. …

China, as our second largest trading partner, was one of the few countries with significant capital to invest offshore and was particularly interested in tourism investment, Brown said.

The first project off the block will be the $2.4b inner city rail loop and Brown favours a PPP (public/private/partnership) deal over borrowing, issuing infrastructure bonds, or raising rates and taxes in order to fund it.

An excellent idea. I look froward to the local Labour MPs supporting an innovative PPP such as this.

After having failed to get the residents of Oamaru, Christchurch, Wellington and Napier to pay for Auckland’s CBD rail loop, Len Brown has proposed half a dozen new taxes as possible ways to pay for the loop.

The proposed taxes include:

• Regional income tax – new income tax paid only by Aucklanders.
• Regional payroll tax – new income tax paid by Auckland employers.
• Regional GST – raising GST in Auckland.
• Regional fuel tax – raising petrol and diesel taxes across Auckland.
• Visitor taxes – nightly charge for hotel and motel rooms.