Covid slashes $550m from Auckland Council revenue

Covid slashes $550m from Auckland Council revenue
Dan Brunskill
The covid­-19 crisis has put a $550 million hole in Auckland Council’s expected revenue and triggered a temporary debt blow-out.Revenue usually collected from public transport, fuel tax excise and council operations dried up during the national lockdown.An emergency committee assembled by the council has released a draft budget which projects an operating revenue shortfall of about $550 million for the coming financial year. That will cause the council’s debt-to-revenue ratio to rise to 290 percent in the financial year starting...

More Policy

Mark Dunphy's Greymouth Petroleum comes out swinging
Policy

Mark Dunphy's Greymouth Petroleum comes out swinging

Malaysian oil company Tamarind should be "exited from NZ".

Pattrick Smellie 17 Feb 2025
Kinleith paper operations to close, loss of 230 jobs
Primary Sector

Kinleith paper operations to close, loss of 230 jobs

Minister Shane Jones says the closure is evidence of de-industrialisation.

PM's summit hastens new overseas investor regime
Policy

PM's summit hastens new overseas investor regime

Cabinet has agreed to liberalise the foreign investor regime in time for a March summit.

Pattrick Smellie 12 Feb 2025
What wealthy global investors really want
Policy

What wealthy global investors really want

The two things high-net-worth advisers say ‘should be gone by lunchtime’.