Dunedin faces significant rates rises and increased debt over the next 10 years as the city council considers what it is calling an ambitious spending programme for the city. The plan said the council had been focusing on paying down debt and limiting rates increases. "To pay for everything that's currently included in the draft budgets, we will need to increase rates and raise more debt. "To make sure we don't borrow too much, we'll focus our investment in assets and infrastructure in Dunedin and sell assets that are outside of Dunedin.'' Debt is set to increase by $68 million in the next 10 years, with $63 million of assets to be sold.

Source: Otago Daily Times December 06, 2017 22:18 UTC