Vic Crone announces debt-control policy plan

Vic Crone announces debt-control policy plan

Auckland mayoral candidate Vic Crone has announced her first set of policies. They include capping rates rises, reducing council staff costs and controlling debt.

The former Xero New Zealand managing director says she wants the council's books out of the red.

"It's not okay to burden our future generations with debt," says Ms Crone. "But it's also not okay to burden people today with really high interest repayments.

"So when you look at the debt, we need to use any additional surplus that we have to pay down debt."

Ms Crone told the National Business Review she will reduce staff costs by 5 percent to 10 percent over the next three years and cap staff numbers at the current level, saving up to $80 million.

She also plans to cap average residential rates increases at 2 percent each year for the next three years -- a plan she says will deliver at least $500 million in savings.