### ODT Online Thu, 7 Jan 2010
Editorial: The debt millstone
Few Dunedin ratepayers would disagree with the city council’s finance and corporate support general manager Athol Stephens’ observation that any new spending during the next decade had to be “reined in” given the extraordinary total debt which is forecast to peak in the next financial year at $360 million.
The council has long disappointed ratepayers with its history of failing to curb rates increases and rising charges, of heavier drawing down from debt-laden council-owned companies, and of encouraging ballooning liabilities.
Post by Elizabeth Kerr