Earlier this week Mayor Wayne Brown announced his budget proposal for 2023\/24, promising a rate rise of 4.66% \u2013 which is below our current inflation rate of 7.2%. Though note that the increase in general rates is 7%, with the total figure proposed to be brought down by some cuts in targeted rates.<\/p>\n
The rate increase and other parts of the proposal are in large part about plugging a nearly $300 million shortfall\u00a0which has come about as a result of COVID pressures and more recent issues like interest rate hikes.<\/p>\n
A lot of the discussion in recent weeks \u2013 and mentioned in the announcement \u2013 has been about the possibility of the council, as by far the largest single shareholder, selling its 18.1% stake in the Airport, which they estimate could raise around $2 billion and be used to pay down council debt.<\/p>\n","protected":false},"excerpt":{"rendered":"
Earlier this week Mayor Wayne Brown announced his budget proposal for 2023\/24, promising a rate rise of 4.66% \u2013 which is below our current inflation rate of 7.2<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-1011","post","type-post","status-publish","format-standard","hentry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t