Media releases

Delivering for Melburnians today, shaping tomorrow

16 May 2023
  • Total draft Budget 2023–24: $850.7 million  
  • $247.5 million infrastructure spend  
  • $60.9 million for cleaning, safety and fairness  
  • $28.2 million for events and festivals 
  • Deficit: $17.1 million  
  • Return to surplus: 2025–26   

The City of Melbourne is delivering what matters most for the community today and investing in the city’s growth through an $850.7 million draft Budget.

We’re making Melbourne a cleaner, safer and more caring place with a record $60.9 million investment, which will ensure we deliver on our key commitments.

We will expand the Melbourne Clean Team, upgrade our Safe City Camera Program, and improve housing access and affordability through our Make Room project.

Traders will benefit from Council’s biggest ever events calendar, bringing more people together in the city – including Moomba’s 70th anniversary and our brand new Now or Never Festival.

Council is backing business by cutting red tape, attracting new investment and arming traders with the right tools to embrace Melbourne’s new pace.

As the fastest-growing capital city in the country, we’re getting on with delivering a strong pipeline of infrastructure projects to accommodate growth.

Council will invest $247.5 million in roads and infrastructure, as we open a new Food Hall and library in the Queen Victoria Market precinct, and break ground on our landmark Greenline Project.

We’re creating a more sustainable future and greener jobs, with more than $50 million to maintain our parks and gardens, cut emissions and charge ahead with our Power Melbourne project.

This budget is designed to improve affordability and liveability, while growing our economy to $150 billion Gross Local Product by 2031 – supporting hundreds of thousands of workers and traders.

After two years of rates relief for residents and businesses and a modest increase in 2022–23, Council will implement the Victorian Government’s 3.5 per cent rate cap, which is well below the 7-8 per cent inflation rate.

The City of Melbourne will also help ease the burden on pensioners by providing a rates discount of up to $253, one of the most generous in the state.

Feedback on the draft Budget 2023–24 can be provided on Participate Melbourne from 6pm Tuesday 16 May to midnight Thursday 8 June.

After a special meeting of the Future Melbourne Committee to consider community feedback on Tuesday 20 June, the final Budget is expected to be adopted by councillors on Tuesday 27 June 2023.

Quotes attributable to Lord Mayor Sally Capp

“Our draft Budget 2023–24 delivers on our commitment to create a bustling, inclusive and clean city today, while investing in a more affordable, liveable and prosperous future for our community.”

“We’re investing in what matters most to our traders, residents, workers and visitors – making our city cleaner and safer, building better facilities and providing vital services, and boosting business with events and support.”

“This budget is designed to overcome the current economic challenges, while realising our community’s aspirations for Melbourne – the nation’s fastest growing capital city.”

“It’s a vote of confidence in our city – building momentum by delivering today and shaping tomorrow.”

Quotes attributable to Finance, Governance and Risk portfolio lead Councillor Philip Le Liu

“This draft Budget is big on delivery – ensuring we can do the basics even better and deliver essential services for our community closer to home.”

“The rising cost of living has been front of mind through the development of this budget, and we’re easing the burden on households by absorbing a range of costs.”

“We’re building a better Melbourne – delivering what our community needs today, and investing in its future growth.”

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