Update on our long-term plan

The Annual Plan 2025/2026 focuses on delivering the services and activities we set out for the second year of the Long-term Plan 2024-2034 (LTP).

Progress achieved in 2024

Overall, we are making good progress in delivering our plan.

Auckland Future Fund

The Auckland Future Fund invests in a range of assets to help provide us with more sources of income. This means we do not have to rely as much on rates to fund our plans.

In 2024, we:

  • set up the fund and appointed directors to manage it
  • set up a trust deed (rules and terms) for the fund
  • supported development of the Auckland Council (Auckland Future Fund) Bill to provide the fund with legal protection
  • completed the transfer and sale of Auckland International Airport Limited shares to provide $1.3 billion to invest in the fund
  • began setting up a $20 million ‘fix and finish’ fund for existing community projects in the former Manukau City and Auckland City areas.

$50 weekly fare cap for public transport

In July 2024 we introduced a 7-day fare cap for public transport.

The $50 fare cap applies to Auckland Transport (AT) buses, trains and inner-harbour ferries. It limits travel costs on public transport to $50 over any seven-day period.

Other transport improvements also provide more accessible and convenient travel options, allowing the $50 fare cap scheme to help even more Aucklanders.

These improvements include:

  • more frequent services
  • the addition of electric buses
  • a full ferry timetable
  • bus ‘booster’ technologies to prioritise buses in traffic.

Reducing operating costs

In every annual and long-term plan (budget) we set targets to save costs. For the 2024/2025 financial year, we set a $66 million savings target. This included:

This combined savings target builds upon the $90 million a year savings from the 10-year Budget 2021-2031 and will grow to $107 million by the 2026/2027 financial year.

By December 2024, we had achieved $43.2 million, or 65 per cent, of the $66 million target for the 2024/2025 financial year.

Fairer funding for local boards

We are making progress towards introducing a fairer funding model for local boards from 1 July 2025. This will allocate funds to our 21 local boards (based on things like population size and infrastructure needs) so each local board can better respond to the needs of their communities.

Reducing corporate emissions

We have several programmes and projects underway to reduce our corporate emissions.

These programmes focus on:

  • replacing gas boilers in our buildings
  • increasing the use of solar energy in our buildings
  • decarbonising our stadiums (reducing or completely eliminating carbon emissions)
  • monitoring our energy use.

Improvements to our waterfront

We are ‘getting on with’ work to open up the city centre waterfront to Aucklanders. This includes the new Karanga Plaza Harbour Pool that we opened in December 2024.

Water reform

Local Water Done Well is the government’s new water reform programme. Under this model, Watercare is now financially independent of the council. This means it can invest more without being held back by Auckland Council's debt limits. As a result, Watercare can now invest in large-scale upgrades and improvements while keeping water affordable for Aucklanders.

Have your say

We want to know what you think about our proposals for this annual plan.

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You should know

The information on this page is an edited version of the Annual Plan 2025/2026 Consultation Document.

You can find more information about how our Long-term Plan 2024-2034 is progressing on page 6 of the Annual Plan 2025/2026 Consultation Document [PDF 8.0MB].

Illustration of Karanga Plaza Harbour Pool with Auckland city in the background and a lifeguard watching two people swimming.