7 Nov 2022

Auckland City's massive budget hold

From Nine To Noon, 11:05 am on 7 November 2022


Auckland City's budget woes, and the potential impact on ratepayers and services.

The council has this morning made a statement to the NZX saying it is facing "increased pressure" on its budgets due to rapid rises in inflation and interest rates.

Auckland's new mayor Wayne Brown has said the council is already looking at a budget hole of $270 million for the next financial year, but he has said rate rises will be limited and the deficit will have to be filled through savings and efficiencies.

Kathryn speaks with RNZ Auckland reporter Amy Williams.