Landmark budget invests in Melbourne’s momentum

The Melbourne experience will be better than ever for residents, traders and visitors with the City of Melbourne’s record $837.8 million draft Budget to build city shaping projects, promote a range of stellar events, and make the city cleaner and safer.

​The draft Budget 2022-23 is big on delivery, job creation and investing in the city’s sustained momentum.          

$254 million will supercharge infrastructure projects, create up to 1,000 jobs and boost our economy while we get on with the job.       

This budget builds momentum to grow Melbourne’s economy to $150 billion Gross Local Product by 2031 – supporting hundreds of thousands of workers and traders. 

Our landmark Greenline project will receive an initial $40 million to bring it to life, transforming the north bank of the Yarra River – Birrarung into a vibrant promenade.  

Council will continue to renew the Queen Victoria Market precinct with a $50 million boost for the next stage of the project, a further $25 million for the new Kensington Community Aquatic and Recreation Centre, and create new open space in Southbank.      

After two years of rates relief for residents and businesses, Council will return to the normal rates cycle by implementing the Victorian Government’s 1.75 per cent rates cap. 

This will ensure Council can deliver on all vital services residents and traders rely on, as well as continuing to deliver on all major projects.

Having an attractive and clean city is imperative as people return to the CBD in high numbers. The City of Melbourne will double-down on its efforts to keep the city clean, safe and free from graffiti, with a huge $33.6 million investment. We’re expanding our Rapid Response Clean Team to fast-track graffiti removal and doubling our investment in high pressure cleaning. 

Council will be itemising the waste charge on future rates notices to provide transparency, a decision that is in line with most other Victorian councils. 

Over $33.7 million will be invested to grow Melbourne’s events, culture and creative program – boosting visitation and creating jobs.   

In partnership with the Victorian Government, the $200 million Melbourne City Revitalisation Fund will continue to drive economic recovery and back local businesses by boosting infrastructure, events and visitation. 

More than $50 million will be allocated to create new open space, keep the city’s parks and gardens flourishing, and cut emissions. Through Power Melbourne, we will continue to strive towards a zero-carbon future.      

Invest Melbourne will get to work to attract more investment to the city, while Homes Melbourne will focus on making housing more affordable and accessible across the municipality.  

The City of Melbourne will help cost of living pressures for pensioners by providing a rates discount of up to $247, the most generous in the state. 

Feedback on the draft Budget 2022-23 can be provided on Participate Melbourne from 6pm Tuesday 17 May to midnight Tuesday 14 June.     

After a special meeting of the Future Melbourne Committee to consider community feedback on Thursday 23 June, the final Budget is expected to be adopted by councillors on Tuesday 28 June 2022.   

Quotes attributable to Lord Mayor Sally Capp 

“This is a landmark budget that restores city confidence and continues to invest in Melbourne’s momentum.”  

“We’ve designed a budget that delivers on what matters most – making our city cleaner, delivering more events and bringing people back to the city.”       

“We’re investing to grow our economy beyond pre-pandemic levels and create more jobs, more events and more amenities for our residents, traders and visitors.” 

“With record spends on Greenline and Queen Victoria Market, we’re building better facilities and creating up to 1,000 jobs in great news for local businesses.”            

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

“We’re making it easier to start, grow and run a business – and we’re working to forge successful partnerships both at home and abroad to create jobs and boost our economy.”     

“Years of disciplined financial management made it possible to increase investment to support our community as the pandemic steered our city off track over a difficult two years.”  

“After delivering consecutive recovery-focused budgets and providing $17 million in rates relief, this draft Budget puts us in a strong position to deliver a surplus in 2023-24.”     

Draft Budget fast facts:

  • Record 2022-23 draft Budget: $837.8 million 
  • $254 million infrastructure spend  
  • $33.7 million for events, festivals and creative industry  
  • $33.6 million boost for city cleanliness and safety 
  • Deficit: $11.3 million 
  • Return to surplus: 2023-24 
  • Greenline: $140 million over the next four years 

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