Auckland Councillor Julie Fairey has been forced to reveal a spousal interest in Auckland Airport, days out from a highly-charged vote on the council's sale of shares in the company.
Her husband is Michael Wood, the under-fire minister who was stood down from his Transport portfolio on Tuesday after it was revealed he has $13,000 in Auckland Airport shares and hadn't declared these with Parliament's pecuniary interest register. Wood eventually declared these appropriately last year, but didn't correct previous registers.
On Tuesday night, Fairey's council declaration was updated to read: "Spouse M Wood has shares in Auckland International Airport Limited [AIAL] and Contact Energy. I do not hold any shares directly."
Her beneficial interest in a trust has also been added:
"JM Fairey Family Trust, Holds range of investments inherited through family. No active investing eg trading shares. Shifting to managed fund investments. Spouse and I are both trustees and beneficiaries [sic]."
In a statement, Fairey confirmed she had updated her elected member declaration form to reflect her beneficiary title in the JM Fairey Family Trust.
"I was not aware of this role until this morning. In previous years, I have proactively declared what I knew, which was my trustee role," she said.
"I have also added my partner, Michael Wood's shareholdings to my declaration, which I previously did not think was required. Michael purchased 1530 Auckland International Airport Limited shares prior to our relationship."
Fairey said the shareholdings have never had a bearing on her considerations around the sale of Auckland Council's AIAL shares.
Pending advice from the Office of the Auditor General in relation to councillors who may have shareholdings in AIAL directly or indirectly, she said she will follow accordingly regarding her participation in the upcoming annual budget vote.
In Mayor Wayne Brown's budget proposal, he proposed a full sale of council shares in Auckland Airport. He warned that if they aren't sold now, rates would have to rise "up by double-digits" to patch the council's $325 million budget hole.
But rates aside, other options include service cuts, debt, and the controversial sale of Auckland's 18 percent stake in Auckland Airport.
Ratepayers aren't in favour of the sale. A council-commissioned poll shows just 24 percent support a full sale, while 52 percent support a partial sale, and 17 percent don't support one at all.
Meanwhile, Auckland Council said it is working with multiple elected officials on their interests ahead of Thursday's budget decisions, though it's unclear how many councillors are caught up in the matter.
"We understand that like many Aucklanders, some councillors or their spouses directly or indirectly own shares in AIAL, including through managed investment schemes," its manager of governance services Rose Leonard said.
"Whether ownership of AIAL shares gives rise to a conflict of interest is a question of fact that can only be determined on a case-by-case basis.
"We are working with affected elected members on the best way forward ahead of budget decisions on Thursday."
