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6 May 2024 7:30
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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
     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
     19 Apr: The Government's decision to extend the timeframe for earthquake-strengthening work has gained support among Local Government New Zealand
     12 Apr: The Mayor of Lower Hutt says the council's latest budget is one of the most challenging long term plans, to pull together
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     Today's News

    International:
    How modelling agent Chelsea Bonner is taking on artificial intelligence to avoid 'cataclysmic step backwards' for industry 7:27

    Business:
    The fashion industry's urging the government to come to the table and engage with the sector 7:27

    Environment:
    It's set to be another chilly night across the South Island 7:17

    Business:
    New Zealanders are being urged not to let their insurance lapse, as premiums continue to rise at recent pace 7:07

    International:
    These Russian convict soldiers earned their freedom in Ukraine. When they got home, some killed again 7:07

    Law and Order:
    Serious concerns over the increasing rate of dog attacks on children 6:47

    Entertainment:
    Whoopi Goldberg's mum forgot who the actress was after being subjected to years of electroshock therapy 6:14

    Golf:
    Golfer Daniel Hillier has finished in a tie for 23rd at the European Tour's tournament in China this week 21:57

    Entertainment:
    Gwyneth Paltrow feels "guilty for any misstep" as a parent 21:44

    Rugby League:
    The Warriors admit there's a lot of work to be done after they suffered another loss in league's NRL 21:17


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