BCC budget builds on priorities

Lord Mayor Graham Quirk has handed down Brisbane City Council’s 2015/16 Budget.

In delivering the budget speech the Lord Mayor said, “this budget builds upon a number of key priorities that will ensure the future prosperity of our city.”

 These priorities include:

· $100 million for road resurfacing

· $114 million subsidy towards the bus and ferry network

· $80 million for widening the Inner City Bypass

· $689 million over four years for the Kingsford Smith Drive upgrade and Stage 1 of the Wynnum Road Corridor

· $1.1 million to extend free Wi-Fi coverage in the CBD

· $2.2 million for new city artworks and CBD lighting displays

· $15.5 million to implement the key recommendations from the Brisbane 2022 New World City Action Plan

After reviewing the budget papers, the Property Council can report that there is no major increase to commercial or retail rates above the average 2.5 per cent increase announced for residential properties. The average increase to Council’s fees and charges will also be 2.5 per cent.

The budget papers show that Brisbane City Council’s future fund, the City of Brisbane Investment Corporation has grown its equity to $236 million since 2009, while the net debt per person will be reduced to $1,088, down from $1,411 in 2014/15.