The Mayor this afternoon announced his rates target for 2011-12 of a maximum of 4.9 per cent.

It came during a presentation from the Mayor on opening the books to the Strategy and Finance Committee.

The ATA indicated a rate rise of 7.3 per cent would be required without savings.

Council officers have revised that to 9 per cent as the result of factors such as increased government rail charges.

They indicated savings associated organisational savings and capital expenditure timing issues could reduce that to 5.8 per cent.

Len Brown wants extra savings of at least $13 million to reduce the rates increase to a maximum of 4.9 per cent.

"We have already identified millions of dollars in savings and will be looking for more efficiencies. This increase represents a responsible and sustainable rating level given amalgamation and extra unbudgeted costs," says Len Brown.

The Mayor’s presentation to the Strategy and Finance Committee is attached.

ENDS

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