Wide ranging interview on the city finances with Chris Lynch last night. Some key points worth noting: - Why has the funding gap increased? We havent cut enough from the capital program or our operating expenditure. Weve also seen an increase in our horizontal infrastructure repair costs. - How do we deal with it? We cut our expenditure (hard choices), increase our revenue (raise rates), delay projects (as we have done with the stadium) or raise capital (as we have proposed). All these options impact on each other and create different trade offs. We will need to take all of them and will need to discuss in more detail how it all fits together. Weve already started this conversation through the Smart Choices engagement and this will continue now through the wider Long Term Plan consultation process. By June 2015 all of this needs to be nailed down. https://youtube/watch?v=cdEJZaQvscA
Posted on: Tue, 09 Dec 2014 05:32:01 +0000
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