Council funding tools generally fit for purpose, Treasury says

Local authorities face a backlog of maintenance and renewals spending. (Image: Getty)

Mon, 11 Nov 2024

Treasury believes the existing funding and financing tools available to councils are generally fit for purpose, they’re just not being used to their fullest extent. The local government sector has consistently called for a broader suite of tools, with some leaders arguing the current system is broken and overly reliant on rates.Earlier this year, sector group Local Government New Zealand (LGNZ) said homeowners were facing average rates rises of 15%, according to the draft long-term plans of 48 councils. The double-digit hike is...

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