S&P Says NZ Rates Cap Could Be Credit Negative for Councils
The New Zealand government’s plan to impose a cap on land taxes, or rates, charged by local councils could be credit negative for the sector unless matched over time with...
By Tracy Withers · Bloomberg Markets
The New Zealand government’s plan to impose a cap on land taxes, or rates, charged by local councils could be credit negative for the sector unless matched over time with cuts in spending growth, according to S&P Global Ratings.