Jamie Gough, a business developer and member of one of Christchurch's richest families, believes the city is in "dire need of a stronger commercial lens from the council".

A high profile city councillor considering a tilt at the mayoralty wants to cap rates rises at half their current level and use Christchurch's assets to generate more income.

Jamie Gough believes "unsustainable" increases have left rates "completely unaffordable" and created a new class of "working poor".

Rates in the city rose by 5.5 per cent this year and will go up more than 50 per cent over the next decade, a hike Gough branded "unacceptable".

DAVID WALKER/STUFF Councillor Jamie Gough believes "unsustainable" rates increases have left bills "completely unaffordable" and created a new class of "working poor".

Calling for it to be addressed as a "major priority" by Mayor Lianne Dalziel and the city council, he told Stuff: "People who should not be struggling to pay their rates genuinely are, and there's no end in sight.

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"We should be putting in place firm policy to cap rate rises by at least half of where our increases have been and where they look to be headed and undertake a plan at pace to use our asset holdings differently, to generate greater income and greater value for the city than what we are currently."

GEORGE HEARD/STUFF Mayor Lianne Dalziel with MP Nicky Wagner, who may well end up a challenger in this year's elections.

Gough is mulling over whether to stand for the mayoralty against Lianne Dalziel, who confirmed last month that she will run for a third term.

Now in his own third term representing Fendalton, he will decide over the coming months whether to stand as a councillor, run for mayor or bid for both.

Gough, a business developer and member of one of Christchurch's richest families, believes the city is in "dire need of a stronger commercial lens from the council", arguing it faces a critical period that will "make or break it".

"I feel people want more of a commercial focus, because they see that it's been sorely lacking with so many council decisions."

A proponent of asset sales, in September his Independent Citizens group said it would only consider fielding candidates who would back selling minority stakes in the city's key holdings.

But the same month the council vetoed a proposal calling for a review into how much could be made from selling stakes in businesses such as Lyttelton Port and broadband provider Enable.

Joseph Johnson/Stuff The new-look Christchurch City councillors as they appeared after the election in 2016.

Refusing to reassess the idea would be "commercially insane", Gough said.

"The reality is that only Christchurch Airport and Orion are delivering a return on equity that is greater than what you would get at the bank. I find it absolutely staggering to literally resolve to ignore that."

He suggested key figures were disheartened with what they felt was a lack of support for business from the current administration, they are considering putting their own interests on hold to run for council in October's election – though Gough would not provide names and a call around businesspeople by Stuff found only one who said they would consider running.

Gough said he was approached over the summer break by "at least a handful" of well-known individuals who have either offered him their support or discussed running for council themselves.

"These people largely come under the umbrella of well-established individuals in the private sector whom, under normal circumstances, probably wouldn't have seriously taken the idea of running themselves further."

He said they shared concerns such as the financial handling of the Town Hall project, sluggishness over plans to support businesses in the central city and frustrations about transport at what many believe is a "critical juncture" for Christchurch.

Other notable figures have also revealed their hand over the election.

National MP Nicky Wagner is considering throwing her hat into the ring for the mayoralty, and Coastal councillor David East is "weighing up" his options after receiving widespread support over his fight to amend the district plan and help residents fighting to build homes.

All other councillors – other than Gough – have ruled out standing against Dalziel.

Despite 16 seats being up for grabs, Christchurch's political landscape could remain largely unchanged.

All bar one councillor told Stuff they intend to run again – finance spokesman and Waimairi representative Raf Manji is stepping down – and in the 2016 election four seats were uncontested, leaving the incumbents free to continue.