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22 Dec 2024 5:52
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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
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     12 Dec: An increase in Greater Christchurch bus fares has been confirmed by the regional council
     05 Dec: Christchurch's Mayor says safety was the priority, in decisions over the contentious Church Corner intersection
     02 Dec: Dunedin's Mayor says it's not too late for the Government to build Dunedin Hospital as promised
     26 Nov: Investment in water infrastructure - but some community facilities and upgrades face the chop
     25 Nov: Tourists 'disappointed' as much of Rome under construction in preparation for pope's 2025 Jubilee
     25 Nov: Again importing bitumen to Marsden Point should bring an economic boost and supply security to Northland
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     Today's News

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    Rugby:
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    Accident and Emergency:
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    Netball:
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