Schrinner Council on track to deliver balanced Budget for 2024-25

Brisbane, February 25 (Australia India News Newsdesk)

The Schrinner Council is set to deliver another balanced budget for 2024-25, with the latest quarterly financial report confirming strong financial management despite rising costs.

Lord Mayor Adrian Schrinner highlighted the importance of keeping costs under control to ease pressure on household rates and rents. “We promised to balance the budget and ease pressure on rates and rents at last year’s election, and that's precisely what we're on track to deliver,” he said.

The report shows that the Council is on track to achieve a 7% operating surplus, providing a buffer against unexpected cost increases. Spending has been reduced by $320.9 million, and more than $1.3 billion in revenue has been received to support frontline services. Net debt remains at $3.638 billion, well within the $4 billion annual budget. Meanwhile, major projects aimed at keeping Brisbane moving have progressed, including Brisbane Metro’s turnup-and-go services, completion of Australia’s largest bus depot at Rochedale, Adelaide Street Tunnel construction to ease CBD congestion, opening of Kangaroo Point Bridge, with over 500,000 trips since December 2024, Moggill Road roundabout removal at Indooroopilly, Beams Road major upgrade in one of Brisbane’s fastest-growing areas. Council has also made significant environmental progress, diverting 37,548 tonnes of garden waste from landfill—a 36% increase from the previous year. Additionally, Brisbane parks have been serviced 42,500 times, up from 38,582 services in the previous year.

Mayor Schrinner contrasted his Council’s responsible financial management with the $3.5 billion in unfunded promises made by the Green/Labor Coalition in the last election. “Brisbane residents overwhelmingly backed our plan to spend within our means while also investing in the projects necessary to keep Brisbane moving,” he stated.

He also pointed to the recent downgrade of Queensland’s credit rating outlook, warning that Labor’s financial mismanagement would have resulted in higher rates and rents for residents.

“The recent downgrade of the State’s credit rating outlook demonstrates Labor’s reckless management of public money, which will cost every Queenslander,” he added.

With a proven track record of fiscal responsibility, the Schrinner Council remains committed to balancing the budget, delivering essential services, and keeping Brisbane affordable.