A proposal to deal with Wellington City Council’s significant external economic pressures while continuing to deliver for the capital city was today presented to elected members working on the 2024-34 Long-term Plan.
The initial starting point for next year’s rates increase following input from elected members was 26%.
With additional levers being pulled, today’s budget proposes significant reductions in planned capital and operating expenditure and would result in a predicted rates increase of around 14-16% for the 2024/25 financial year.
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14% is far lower than I would have predicted, I wonder what sort of cuts they’re looking at to achieve this.