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8 May 2024 15:12
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  •   Home > News > Local Politics

    Wellington's Mayor can't yet paint a clear picture of the city council's debt

    Wellington's Mayor can't yet paint a clear picture of the city council's debt


    The council's gross debt was 1.25 billion dollars at the end of the 2023 financial year.

    Over the past five years, they paid an average of 25 million dollars annually in interest for money it has borrowed.

    A group of Wellington ratepayers say their independent analysis shows the council's facing a billion dollar hole, which Tory Whanau rejects.

    She says they're still at the beginning stage of the Long Term Plan process -- so they can't yet determine how much debt they'll need to use.

    © 2024 Newstalk ZB, NZCity

     Other Local Politics News
     06 May: Police are still hunting a person suspected of shooting a man dead on Auckland's Ponsonby Road about 10.15 last night
     06 May: The Chief Executive of Upper Hutt City Council is apologising after a number of mistakes were found in its draft long term plan
     05 May: Award-winning Maori musician Ria Hall has announced she's running for the Tauranga mayoralty
     05 May: Local Government New Zealand wants the coalition government to seriously consider returning the GST charged on rates, back to councils
     02 May: Nelson City Council-owned properties at risk from landslips, are up for sale
     02 May: Dunedin City Council is challenging the Government over recent upheaval within the disability support sector
     29 Apr: Cantabrians are about to have the opportunity to discuss their regional council's 10 year plan
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