June 9, 2010Record road funding, infrastructure investment and ‘green’ initiatives are standout components of Brisbane City Council’s 2010-11 Budget handed down today by Lord Mayor Campbell Newman.
Living up to its reputation as Australia’s ‘new world city’, $2.79 billion will be injected into Brisbane’s economy to counter a significant slump in building activity and lower than expected population growth.
Key capital outlays include infrastructure investment of more than $1 billion; $204.5 million on public transport; $981.5 million on road upgrades; $125 million to improve and maintain parks; and $69.8 million to save iconic City Hall.
According to Newman, Brisbane has been hit hard by the GFC, with Council experiencing sharp falls in revenue from development activity.
However, he says Council has found considerable savings in major infrastructure projects to ease the impacts on ratepayers.
“Unlike other levels of government, Brisbane City Council is in a strong financial position to continue its record investment in transport infrastructure and its unprecedented focus on the environment,” he says.
In this financial year, Council will begin work on the Northern Link tunnel under Paddington and open the Go Between Bridge at Milton.
Council will also deliver two more CityCats ferries, and another 125 new buses.
There will also be additional garbage services for both households and business, and a renewed focus on flood mitigation.
Maintaining the lowest rates in South East Queensland, average rates will increase $14.18 per quarter per household.
The average owner occupier rates increase of 5.04 percent equates to around $56.72 per annum or $1.09 per week extra in rates for owner occupiers.
In unveiling his $2.79 billion budget, Newman says Council’s focus is on providing value for money, protecting the Brisbane lifestyle and continuing to get on with the record delivery of infrastructure and services.
He assures business is paramount to this process.
“It’s about making sure that Brisbane businesses have the support to grow and create jobs. What’s more it’s about making sure Brisbane remains an attractive, secure and rewarding place to invest money,” he says.
