Live in Auckland? Your household’s share of Len Brown’s debt is $20,000

" Our Debt is this big "

“Auckland Council’s Debt is this big “

The Auckland Ratepayers’ Alliance has been crunching the numbers and revealed that the?Auckland Council?s liabilities, if equally divided between every Auckland household, work out to $20k per household.

Last week it launched the first of its Ratepayer Briefings where it examines the Council?s debt since amalgamation. If you would like to read it in full you can click here.?

Auckland Council's ticking timbomb

Auckland Council’s ticking timbomb

The Ratepayer Briefing shows that:

  • Auckland Council now has $10.09 billion in liabilities. To put this in perspective, it?s around $20,000 the Council owes per Auckland household.

  • Auckland Council?s per capita debt is so high that Aucklanders are in a worse position than Kaipara ratepayers in 2012 (when Government commissioners were appointed).

  • Despite record low interest rates, the Council’s finance costs in 2014/15 amounted to $422 million. The Council’s books are extremely vulnerable when the rates inevitably rise.

  • Len Brown?s fiscal management has increased total liabilities by 60% in the last 5 years and 15% in the last 12 months alone.

Leighton Smith has read what the Auckland Ratepayers’ Alliance has to say and you can listen to his take on the situation here.