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Bernard Hickey on Radio Live September 18

Bernard Hickey on Radio Live September 18

1. Local authority expenditure was up 9.5% in the June quarter from the same time a year ago as total revenue collected rose 7.1%, widening the local authority operating deficit to NZ$84.8 million, double what it was in June last year. Consumer Price Inflation in the year to June was 1.9%. 2. Allan Hubbard is taking a bit more time to find new capital to bolster South Canterbury Finance's balance sheet. He has extended talks with American bondholders and new investors. South Canterbury is now putting any new investors' money into a trust while it redoes its prospectus. 3. The government's latest plans to improve broadband looks sensible. It's more of a patchwork approach rather than a wholesale roll out of brand new cables. It's also rejected Telecom and Vodafone's proposals to do it for the government and left open the threat of 'overbuild'.

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