Huge savings possible at WCC

Vision for Wellington announced:

Infometrics CEO Brad Olsen, Moore Wilson’s co-owner Julie Moore, company director Paul Ridley-Smith and Infratil’s director of sustainability Louise Tong will turn the spotlight on the city’s ballooning operating costs and debt – and how the city can turn its financial problems around and support business growth. Leading business journalist and commentator, Fran O’Sullivan, will moderate the panel conversation.

“Wellington has far and away the highest operating costs per capita of major cities like Auckland, Christchurch, Hamilton, Tauranga and Lower Hutt,” said Paul Ridley-Smith.

And the Wellington City Council already has the highest debt per capita of other significant New Zealand cities – with the debt burden forecast to climb significantly, he says.

“At the end of June 2025, it is expected that the Council’s debt will be four times higher than in 2019. Total Council operating costs are forecast to rise by 86 percent between 2022–2026 and capital expenditure to double in the same period.”

Louise Tong says Council spending has significantly increased across the board since 2019 with interest costs (+165 percent), urban development (+117 percent), Councillors and staff (+55 percent), waste reduction/energy conservation (+50 percent), insurance (+50 percent), utilities (+49 percent) and suppliers and contractors (+48 percent) leading the way. …

In summary, the panel claims to have identified $2.8 billion in potential savings over the next ten years.

“We need to pull some big levers to arrive at big savings,” said Tong. “But a financial turn-around for the city is possible. And with more money in the city’s back pocket, we can flourish and deliver on our potential.”

The 20% rates increases are not due to infrastructure. They are due to political decisions by elected Councillors.