WELLINGTON CITY COUNCIL DEBT END 2010 $287m
By 2019 the City Council's Debt is forecast to reach $355 million.
In a time of high unemployment and increasing costs such as ACC and energy to run the house and car the household disposable income is on a steep decline for many ratepayers.
posted by pepptalk at 11:24 AM
2 Comments:
You think that is bad, Councils own growth modeling revealed in 2000 the population in the four cities of Wellington would reach 377.000 by 2020, by June this year it has reached 389.000
Conclusion: We are going to need more infrastructure and a lot earlier then planned to accomodate this unexpected growth (infill-housing) and so increasing our debt way beyond your predictions I am afraid.
Somebody close the gate........
With the alarming drop in the male sperm count and the brain drain to Australia, one might project that the Wellington region will see a population decline.
This will only add to the burden "nice to have" spending, by the WCC in particular, will add to the rates of those who remain.
The proposed severe GST increase will affect Wellington residents, more so those on fixed and low incomes.
Now that the Kilbirnie Indoor Stadium has started construction an extra $120 + GST per annum on average will be added to the rate demand for each rateable property to cover just its its operating and depreciation costs alone.
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