What is the budget?
The budget sets out the our key priorities for the next 12 months and how we intend to spend our financial resources in support of our vision for ambitious, fair, green and connected City Region.
What is the budget for?
As a streamlined and strategic authority we want to make prudent use of our resources and ensure that money is directed at projects that will deliver growth, investment and opportunity to all our communities. At a time when many communities are facing financial pressure and struggling with the impact of cuts, we want to be as cost effective and efficient as possible, and not imposing any additional financial burden on local tax payers unless it is necessary.
What are we proposing?
Last week, the Metro Mayor Steve Rotheram confirmed that no precept would be levied on Council Tax bills – ensuring that for the year 2018-19 no additional financial burden would be placed on residents of the Liverpool City Region.
Some of the key proposals presented by the Metro Mayor include:
- The introduction of a £1 off-peak Fast Tag for Mersey Tunnel users;
- Commissioning a new ferry to cross the River Mersey;
- Funding for key mayoral priorities including including digital connectivity, the Mersey Tidal project and how we make best use of new bus powers for the benefit of the City Region economy.
What happens next?
The Combined Authority Budget will be presented for approval at the next meeting of the Liverpool City Region Combined Authority on Friday, 2 February 2018.