A Wellington City Councillor believes the Council will have to borrow money to fund the quake-prone Town Hall.

It faces yet another cost increase, which would add between $70 million to $147 million to the $182 million budget.

Council will vote on approving the budget in a matter of weeks.

Councillor Ray Chung says it's annoying council's continuing with business as usual.

"We're going to have a real shortfall. It could be $1 billion dollars- the valuations of all our assets have gone up, but we haven't got the money to pay for the insurance for it."

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