First discussions on next year’s rates

The first public briefing on the Annual Plan was held on Tuesday 24 September, where Councillors got an overview of the Council’s financial situation, as well as plans for its Parks and Three Waters units over the coming year. 

The briefing will be available on the Council's YouTube Channel here. 

“We've just been through our Long Term Plan process, where the people of Christchurch had their say on what the Council's priorities and spending should be over the 2024 to 2034 period,” says Bede Carran, General Manager Finance, Risk and Performance. 

“So, with the broad direction set in place, the Annual Plan is where we check in, make sure we're on track, and make any tweaks based on any factors that have changed in the previous months – things such as inflation levels or unanticipated projects the Council needs to take on.” 

The rates increase set out in the Long Term Plan for 2025/26 is 8.45%. However, recent official forecasts on inflation are higher than the forecasts used in the LTP.  

Further briefings are planned for October to December. 

“Over the coming months, Councillors and staff will work together to refine the figure and drive it as low as possible while maintaining the services agreed to in the LTP,” Mr Carran says. 

“Councillors will also be discussing the Council's debt level, which we expect to be slightly lower than forecast in the Long Term Plan, and the credit margins on that debt, which we expect to be higher.” 

The Draft Annual Plan is scheduled to be adopted on 13 February 2025 and go out for consultation in March. The final Annual Plan is scheduled to be adopted on 26 June.