Councillors have begun discussions on next year’s rates, as Christchurch City Council prepares for the Annual Plan 2025/26.

The first public briefing on the Annual Plan took place on Tuesday. Councillors were given an overview of the Council’s financial situation, along with plans for its Parks and Three Waters units over the coming year.

Christchurch City Council Finance, Risk and Performance General Manager Bede Carran said “with the broad direction set in place, the Annual Plan is where we check in, make sure we’re on track, and make any tweaks based on factors that have changed in the previous months – things such as inflation levels or unanticipated projects the Council needs to take on,” Carran said.

The Long Term Plan set a rates increase of 8.45% for 2025/26, but recent inflation forecasts are higher than originally expected he said.

Further briefings are planned for October to December to refine the rates figure.

“Over the coming months, Councillors and staff will work together to drive it as low as possible while maintaining the services agreed to in the Long Term Plan,” Carran said.

Councillors will also discuss the Council’s debt level, which is expected to be slightly lower than forecast, though credit margins on that debt are likely to be higher.

The Draft Annual Plan is scheduled for adoption on 13 February 2025, with public consultation to follow in March. The final plan is expected to be adopted on 26 June.