Auckland Transport has less money to spend on capital works this year, says chief executive David Warburton.
He told Auckland councillors today that the transport agency was basically holding its ground and doing its best.
"Do we have enough to accommodate growth and catch up? No," Mr Warburton said at the CCO governance and monitoring committee.
Asked by councillor Bill Cashmore about the funding gap at the moment, Mr Warburton said from a practical point of view it was about $300 million a year.
Mr Warburton said an interim targeted rate for transport of $114 for households in the new budget brought the base budget which was a few hundred million dollars less than what we were doing "back up to about where we are at".