We could continue with ‘business as usual’, but while we’re doing that, other cities will grow. This means Wellington would slip behind and struggle to compete. That would be managing decline. And we’re not here to do that.
Our 10 year plan sets out how and why we propose to ‘invest for growth’. For a small and manageable increase in debt and rates, we’ll support new initiatives that unlock the city’s growth potential.
Imagine Wellington with an international film museum; an indoor music arena; an extended airport runway able to bring in more visitors, students and business opportunities from Asia and North America.
Imagine Adelaide Road and other parts of the inner city transformed into vibrant, mixed use areas with shops, offices, cafes and apartments. The up-front investment is modest. The long-term benefit is potentially huge. We have the opportunity to make a difference.
Our strong financial position means we can afford to invest in growth. In the short term, this will require modest increases in debt and rates.
If we adopt a ‘business as usual’ approach, rates increases could be limited to 3.1% on average annually over the next 10 years. Council debt will be capped at 150% of income.
If we invest for growth, rates increases will be limited to 3.9% percent on average annually over the next 10 years. Council debt will be capped at 175% of income.
View the numbers to see more details on our proposed plan.