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.