Today it has been revealed $2.7 billion has been set aside in the council's budget over the next 10 years for water infrastructure. Rates increaseThe Herald earlier revealed councillors were facing a 23 per cent rates increase as a starting point. The proposed rates increase for the incoming year is now 14 per cent and could be reduced even further, Foster said. But the public will also be presented with a 17 per cent increase option, which would increase the council's level of debt repayment. Its revenue recovery is also slightly better than first thought when a 23 per cent rates increase was being floated.

Source: New Zealand Herald February 11, 2021 01:00 UTC