Dodgy socialist dam runs out of other peoples money

Fenton "Jong-un" Wilson

Fenton “Jong-un” Wilson

Maggie Thatcher had a great quote about socialism.

They [socialists] always run out of other people’s money.

It looks?like?the socialists on the extremely dodgy Hawkes Bay Regional?Council have learned this lesson for themselves.

Their dodgy dam is struggling along and needs to bludge some more money from somewhere to keep going.

Hawke’s Bay Regional Council’s investment company says it needs to borrow up to $4 million to keep the Ruataniwha dam project on track.

The loan is required because a protracted legal challenge means the deadline to stitch together funding and customers for the $275 million Central Hawke’s Bay irrigation scheme could stretch out to the end of February next year.

That is 20 months beyond the “financial close” date the company was working to this time last year.

Under its statement of intent, Hawke’s Bay Regional Investment Company – which owns Napier Port on behalf of the regional council and has been driving the Ruataniwha project – is not allowed to borrow money without the council’s approval.

The problem for the council is that court cases could take the dam?s financial close well into next year.

Allowing for the possibility of appeals, financial close was not expected before October 31 and “could be as late as February 2016,” it said.

Only?February?

Sources in?Hawkes?Bay say that there are so many potential stalling cases that there is no?chance in hell of the dam being signed off before the 2016 council?elections, where the socialists are going to get their heads handed to them.

The arrogant, unpleasant and outright nasty way the HBRC have treated stakeholders over a number of years means that there is no goodwill for the council.

If they want to?build the dam they should start by sacking Andrew Newman, who?won?t even acknowledge the?existence of important stakeholders.

 

– HB Today

 

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