Australia’s Largest Council Cuts Nearly $500 Million in Spending, Pledges to Lower Rates

‘Our council is committed to spending within its means, so we don’t add unnecessary costs onto residents now and into the future,’ said Mayor Adrian Schrinner.

The Brisbane CBD is seen from Kangaroo Point in Brisbane, Australia, on Aug. 5, 2021. AAP Image/Darren England

Australia’s largest city council has slashed nearly half a billion dollars in expenditures to deal with its burgeoning debt, while looking towards cutting rates for local residents.

According to its latest quarterly budget update, the Brisbane City Council (BCC) is expected to deliver a 10 percent operating surplus this year amid rising operating costs.