Council keeps borrowings low to protect future generations

The Burdekin Shire Council will continue to keep its external debt low to protect future generations living in the region, according to Mayor Bill Lowis.

Cr Lowis said that at present the Burdekin Shire owed $7.25 million, or $391.33 per head of population, which was a considerably low amount when compared to other local authorities.

“We are very fortunate not to have the debt that is being carried by the ratepayers of Whitsunday or Townsville,” he said.

“Whitsunday owes $77.75 million or $2217.41 per head of population and Townsville has an external debt of $10,742.5 million or $1862.91 per head of population.

“We have been, and will continue to be, responsible money managers and deliver our services without borrowing huge amounts of money.”

Cr Lowis said Council could have kept rate rises to a minimum and borrowed the amount needed to provide the services Burdekin residents currently received.

“We could borrow and keep borrowing, but it has to be paid off eventually and this would be a huge weight we would put on the shoulders of our children and grandchildren,” he said.

“I don’t think it is financially responsible to do this and I’m sure many of our ratepayers would agree.”

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