Reverse Growing Debt Through Aggressive Repayment Plan

Facts

In 2013, the City of Surrey reported a $246 million debt, which is in direct contrast to 2005, where there was no debt.

Between 2012 and 2013, the city’s debt rose by 40 per cent or just over $70 million, largely on glamour projects like the new City Hall which offers little benefit to citizens.  The City Hall expenditure will  add $145 million to the debt, including $48 million in interest payments.

In fact, an inaccessible location, pay parking and long waiting times make the new City of Surrey headquarters a barrier for many residents.

Proposal

Cap the debt and dramatically increase annual debt payments.