Property Council submission on Wellington City Council Annual Plan 2020-21
Property Council New Zealand recommends the following:
· Reduce the rates increase of 2.3 percent (option B) further by finding additional reductions in the budget and taking on further debt.
· Consider extending the rates postponement policy to include rates in the 2020/21 financial year and spreading the deferred payment equally over 3 years.
· Abolish the business rates differential and investigate alternative funding mechanisms such as congestion charges, targeted rates, public-private partnerships and special purpose vehicles.
· Consider taking on more debt to reduce rates while ensuring key infrastructure projects can continue to progress.
· Focus on core infrastructure, such as upgrades to water services and roads, during the recovery period, and reassess spending on other projects as part of the LTP 2021-31.