LAKE Macquarie City Council (LMCC) predicts it will be $30 million worse off across the next decade in lost rate revenue after independent pricing watchdog IPART set the rate peg at a meagre 0.7 per cent.
Almost 60 per cent of the council's revenue comes from rates, and with projects and long-term financial plans forecast with the expected 2.5 per cent rate peg, it anticipates it will lose more than $2.6 million each year.
