1 Jun 2010

Queenstown to revise 10-year plan

8:07 am on 1 June 2010

Queenstown Lakes District Council is reworking its 10-year plan to take account of an expected fall in contributions from developers hit by the global financial crisis.

Finance controller Stuart Burns says a leaner plan will try to stem public debt, which is expected to amount to almost $400 million over the next decade.

Financial commentator Bernard Hickey says Queenstown could take 20 years to recover from the global crisis, with money lenders wary of the resort.