McCully's silence, what's driving the sharemarket and Queenstown's apartment rebound
McCully clams up over his past involvement with an embattled property developer who used to work for him.
Foreign Minister Murray McCully won't discuss past dealings with an embattled property developer – who happens to be a former staffer.
Mr McCully's press secretary Stephanie Mckay says the minister "will not be providing comment" about his involvement, including past loans, with Christopher Cook, who is behind the ill-fated Albany Heights subdivision on Auckland's North Shore.
Today's National Business Review print edition reveals Mr Cook worked for Mr McCully when he was National's housing minister in the 1990s.
Elsewhere in the paper, fund managers say money from international institutions is helping drive a surging New Zealand sharemarket.
In NBR Property, Chris Hutching reports apartment sales in Queenstown are picking up after a lull in recent years.
Economics editor Rob Hosking writes in Order Paper that the recent tensions between the government and Auckland mayor Len Brown can be expected to spread to other councils when more radical local government reforms are introduced in spring.
In NBR In Depth, Grant Thornton partner Pam Newlove says the Affordable Healthcare Bill promoted by New Zealand First could lead to scarce public system resources being diverted from elective procedures that could be delivered by the private sector.
NBR Online staff
Fri, 10 May 2013
Fri, 10 May 2013
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
McCully's silence, what's driving the sharemarket and Queenstown's apartment rebound
29251