Long-term Plan adopted by councillors secures 10-year direction for Au…
Mayor Wayne Brown said the LTP is a significant milestone in delivering on his key priorities.
“The plan means Auckland has the lowest rates rise of any metropolitan council in New Zealand while securing much greater investment to fix the region’s transport system and critical water infrastructure.
“Getting the Long-term Plan across the line required an unprecedented effort across the council, and I appreciate that a tremendous amount of work went into it. That includes the deal we negotiated with central government to solve the water problem once and for all.
“With the creation of the Auckland Future Fund now agreed, the conversation can turn to wealth creation and how to get the most out of what we have – rather than just budget holes and debt.”
Auckland Council chief executive Phil Wilson said this Long-term Plan prioritises Auckland’s physical and financial resilience.
“Ultimately this plan is about building Auckland’s future and delivering the outcomes that Aucklanders want and need. It is how we, as council, improve the daily lives of Aucklanders, particularly through the current cost of living concerns,” said Mr Wilson.
“It is about managing the challenges we face – such as inflation, population growth, flood resilience and funding – making the most of what we have, and focusing on areas that will make the biggest difference for Auckland.”
Mr Wilson said fixing and growing infrastructure is a focus over the coming decade, with more than $39 billion for capital programmes to build, or buy, assets such as roads, pipes and buildings to provide Aucklanders with services and activities.
A $14 billion transport budget will help fix roads and deliver better public transport, alongside $13.8 billion into Watercare’s capital programme.
“The Long-term Plan has also secured a legacy for Auckland by creating a fund to safeguard our future. The Auckland Future Fund is new and exciting territory for us,” said Mr Wilson.
The new Auckland Future Fund is a key shift in financial strategy for the council – diversifying council’s major investments and better protecting the value of these investments for future generations of Aucklanders. It will also deliver additional funding for council services, of around $40 million per year from 2025/2026.
The council’s remaining shares in Auckland International Airport Ltd will be transferred into the future fund, and a fund manager will decide to sell any or all shares.
The Port of Auckland is also expected to deliver $1.1 billion in profit over the next decade and, by 2027, will deliver Auckland Council $110 million, or more than $2 million a week.
The Marsden and Captain Cook wharves are also planned to pass into council ownership, for public use, in the next few years – opening new public waterfront space, improving ferry services and boosting the economy.
The plan confirms a total rates increase for the average-value residential property of around 6.8 per cent or $245.48 a year ($4.72 a week) in 2024/2025. This increase is planned to be 5.8 per cent in 2025/2026 and 7.9 per cent in 2026/2027.