Combined Authority agrees budget and priorities for 2019/20
At a meeting today, the Combined Authority approved its budget and mayoral priorities for 2019/20.
The agreed budget includes provision for:
The budget also sets out how much residents will be asked to contribute through a precept to enable the Metro Mayor and Combined Authority to deliver these priorities.
Under the proposals, 95% of households that pay council tax will pay no more than 32p a week, in order to raise £7.6 million per year. 96% of the money raised will enable the Combined Authority to develop and deliver its initiatives, while 4% will cover the running costs of the Metro Mayor’s office.
Those exempt from council tax will pay nothing and reduced rate allowances, such as for single person households, will also apply.
How much households in the different council tax bands will pay is detailed below.
|Council tax band||Annual cost|
The mayoral precept will raise £7.6 million to support the effective delivery of hundreds of millions of pounds of investments across the city region, including the recently announced £500m Strategic Investment Fund. It is expected that up to another £1 billion in additional funding will be secured over the next five years because of devolution.