Councils are celebrating the government's decision to lift the debt cap, allowing them to borrow more money. 

It follows an average 15% rates increase this year across the country. 

Local Government New Zealand President Sam Broughton told Mike Hosking that councils currently have two options - borrow or lift rates. 

He says they have to borrow more because residents can't afford to fund the infrastructure deficit councils are in. 

LISTEN ABOVE 

Councils are celebrating the government's decision to lift the debt cap, allowing them to borrow more money.&nbsp;
It follows an average 15% rates increase this year across the country.&nbsp;
Local Government New Zealand President Sam Broughton told Mike Hosking that councils currently have two options - borrow or lift rates.&nbsp;
He says they have to borrow more because residents can't afford to fund the infrastructure deficit councils are in.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Sam Broughton: Local Government New Zealand President on the Government's decision to lift the debt cap for councils

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6168989a-37a1-48fc-8df8-b22f013c5bf2/transcript