Independent experts find potential $1b hole in Wellington City Council books

Economic analysis of Wellington City Council's financial state suggest they're facing hundreds million dollars worth of unbudgeted costs. The research done by Castalia was commissioned by a group of concerned Wellingtonians. The analysis done off public records shows there's at least one billion dollars worth of expenditure not included in the council's long term plan and unbudgeted spending on projects. Group member and Wellington Lawyer, John Swan says its evidence of reckless fiscal policy. He says it reflects the council lurching from one issue to another -- and the expectation they'll be able to pay for projects with out being able to support it. The council says the claim is based on old figures and the basis behind some costs is unclear. LISTEN ABOVESee omnystudio.com/listener for privacy information.