On Tuesday, December 17th, council came together to discuss the 2020 to 2023 Multi-Year Budget which is a financial plan regarding how money coming into London will be spent between 2020 to 2023. Outcomes from the meeting include a draft budget. With a proposed spending of close to a billion dollars, keeping municipal spending at current levels could result in an annual tax increase of 3.2% over the four-year budget plan.
In addition to this, there were 25 additional spending proposals which would impact spending on items such as improving the community, tackling climate change, public housing initiatives, and much more. The 25 additional spending proposals total $183 million, a potential 1.3% increase in taxes each year. Of these 25 proposals, 16, valued at $112 million, have been prioritized by council.
While city staff have met to discuss, and have drafted a budget plan, you as a resident, have a say in what the final Multi-Year Budget Plan will include. Included below are key dates for the 2020 to 2030 Multi-Year Budget process as well as dates where the public can get involved and provide feedback on what should and should not be prioritized. A survey regarding additional spending was launched today. Please consider taking some time to visit this link and to provide your input on city spending for the next four years.