Our Back On Our Feet plan is about helping households and businesses hit by the Covid-19 economic storm. Our budget for the year ahead has been revised significantly because of the economic shock, including a $5.4 million drop in income. Proposed rates increases were halved to about 2.5% for the average home, with a total rates rise of 3.95%. Before Covid-19, the yearly budget was forecasting an average residential rates rise of 4.75% and a total rise of 6.47%. Our total proposed operating budget for the year is about $175 million over 16 different business units.
We also have a proposed package of projects to help the District get Back On Our Feet, worth about $20 million. Already in place are an $8 million rates relief package and $165,000 in funding to Venture Taranaki to support small-medium businesses.
Now we’re asking for feedback on five parts of our package. Complete the following survey and go in the draw to win vouchers to support local businesses as we help them back on their feet too.