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29 May 2020 19:59
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  •   Home > News > Business

    Wellington City Councillors will consider reducing a proposed rates hike when it looks at a pandemic response budget this week

    Wellington City Councillors will consider reducing a proposed rates hike when it looks at a pandemic response budget this week


    A proposed rates hike of 9.2 percent had been floated prior to the coronavirus outbreak.

    Staff are now recommending rates increase by 4.8 percent for the upcoming year - which would result in debt-funding 68-million dollars.

    But, councillors are being told this would still likely see a rates rise as high as 10 percent for the following year.

    It's been estimated council revenue will be down by 28 million dollars this year, and drop another 30-million dollars next year.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     29 May: The country's largest furniture and homewares retailer retailer will open its doors tomorrow... in what's being described as a significant boost for the local economy
     29 May: Fonterra says its China dairy import volumes climbed 10.1 per cent in March after two consecutive months of declines
     29 May: Coronavirus sparks unprecedented closure of UK pubs, causes 70 million pints of beer to be wasted
     29 May: Farmers are supporting the efforts, to keep our waterways clean
     29 May: Expectation that it will take 12 to 18 months till the country financially recovers
     28 May: Farmers are raising concerns about some of the challenges around the new healthy waterways package
     28 May: A zero rates increase is off the table for Christchurch residents
     Top Stories

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    Provincial women's teams have been given the green light to return to the rugby pitch later in the year More...


    BUSINESS BUSINESS
    The country's largest furniture and homewares retailer retailer will open its doors tomorrow... in what's being described as a significant boost for the local economy More...



     Today's News

    Entertainment:
    Matthew McConaughey and his wife Camila Alves have donated 110,000 masks to hospitals in Texas 19:32

    Rugby:
    Provincial women's teams have been given the green light to return to the rugby pitch later in the year 19:17

    Entertainment:
    Queen Elizabeth II’s closest servants are working three-week shifts in rotation in order to keep the monarch safe from coronavirus 19:02

    Law and Order:
    Meanwhile At least seven people have been shot in Kentucky, with protesters turning out to demand justice for Breonna Taylor, a black woman fatally shot by police in her home 18:37

    Entertainment:
    Katie Price wanted to stay with ex-husband Peter Andre “forever” 18:32

    Law and Order:
    A corrections officer is being provided with ongoing support after they were shot at earlier this week 18:07

    Entertainment:
    Simon Cowell is learning basic “geography and history” facts from his six-year-old son Eric 18:02

    Entertainment:
    America Ferrera says motherhood is “amazing” 17:32

    Business:
    The country's largest furniture and homewares retailer retailer will open its doors tomorrow... in what's being described as a significant boost for the local economy 17:27

    International:
    Face masks are no 'silver bullet' for coronavirus but do have benefits. Here's what you need to know 17:17


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