Three prominent Wellingtonians are so worried about the city council’s finances that they’ve paid for independent experts to take a look at the books.
The resulting economic analysis suggests the council could be facing a $1 billion funding gap in unbudgeted costs and is on track to breach its debt covenants.
At the same time Wellington City Council will today vote on whether to pour up to a further $147 million into the Town Hall strengthening project - a situation that’s prompted one councillor to ask on social media for a “wayback machine to avoid this sh*t show”.
New Zealand Herald Wellington Issues Reporter Georgina Campbell joins Nick Mills to discuss.
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