The Weekend Sun of 17 September 2010 published the claims of the ‘Voter Empowerment Group' that 25% of Tauranga rates will be paid to service Tauranga City debt (source TCC 10 year plan).
They claimed that debt had almost doubled in three years from 2007 $171 million to $329.5 million in 2010 (TCC 10 year plan). That Council debt increases by $2.2 million a week, a $19.3 million increase in three months.
They claim that the $55.1 million debt of 2001 has blown out to $310 million in 2010 (Source TCC Annual Accounts) and the TCC 10 Year Plan predicts a 729% increase in debt to 2001/2016 to $457 million in 2016.
If untrue, surely these claims seem libellous. If true, why did a 729% debt increase not get a mention in the 'City Directions District Plan Review” sent to all households.
And if true, why are these Councillors standing for re-election with this record of indebtedness and financial recklessness.
IE Petrie, Tauranga.