Auckland Mayor Wayne Brown urges councillors to support budget at all-day meeting

Auckland mayor Wayne Brown has urged councillors today to get on and pass the budget. Photo / Michael Craig

Mayor Wayne Brown arrived at what is expected to be a day-long budget meeting wearing a Coastguard cap saying “Rescue Auckland” and told councillors: “Let’s land on a plan and get on with it.”

In an introductory speech, Brown said when the budget process began last December the focus was on tackling the big financial challenges and strengthening the physical resilience of the region “and not just kicking the can down the road”.

He said there was broad support from the public for the draft budget and he had largely responded to the feedback to find more money for transport, fairer funding for local boards and fixed an issue with Watercare to avoid a 25.8 per cent rise in water bills.

The mayor made a pitch to establish a wealth fund, to be known as the Auckland Future Fund, by selling most, if not all, of the council’s shares in Auckland Airport for a diversified range of securities to create a higher rate of return.

Brown said the fund would generate a higher return than holding the shares, saying it would benefit ratepayers by about $40 million a year.

There would be strict protections against raids by future councils on the fund, said the mayor.

The Auckland Future Fund is expected to be a hot topic at today’s extraordinary budget committee meeting, with several councillors opposed to the proposal.

Councillors are today discussing the future of the council's remaining shares in Auckland Airport. Photo / Michael Craig

Brown said rates increases for the average Auckland residential property from July 1 are proposed to be 6.8 per cent, 5.8 per cent in 2026 and 7.9 per cent in 2027. Thereafter, rates would increase by no more than 3.5 per cent to 2034.

Following an agreement with the Government this month to take Watercare’s balance sheet off the council’s books, the proposed 25.8 per cent rise in water bills has been reduced to 7.2 per cent.

On transport, the mayor said there was funding to fix roads, cut low-value initiatives, and make public transport faster, more reliable and affordable.