Against the backdrop of an escalating row over paid parking, the Mayor and City Council (M&CC) yesterday announced that property rates will go up by 10% – the first hike since 1998 – and it is projecting an $833M deficit for 2017.
Under the theme “Revitalising Local Communities in the context of a Green Economy,” Chairman of the Council’s Finance Committee Oscar Clarke, told those gathered in the council chamber yesterday that after a process of consultations the city has arrived at budget with revenue estimated at $2.8 billion, while an expenditure of $3.6 billion dollars is projected.