Amsterdam to invest €425 million in city in 2018 budget

Next year Amsterdam is investing 425 million euros into the city, Finance alderman Udo Kock announced with the city's budget for 2018 on Wednesday. Amsterdam is investing in solving budget problems in various parts of the city, security measures, the work brigade, dealing with teacher shortage and art in public space.

"Amsterdam has a solid budget for 2018. The city is doing well. We are investing 425 million euros into the city, reducing the burdens for Amsterdammers again, and continuing to improve the city finances. That's a nice result", Kock said in a press release about the budget.

Next year, Amsterdam's college of mayor and aldermen is investing more than 30 million euros into dealing with the crowded city. Extra money is going towards education and sports buildings, enforcement and security, event areas, tackling illegal sub-leasing, integrating refugees, preparing for the bridge over the IJ, and ferry connections. 

For the fourth year in a row, Amsterdam is also reducing its residents' costs. Sewage tax is decreasing by 2 percent and the drinking water tariff will go down 6 percent. 

Taxes on tourists will increase next year. From 2018, tourist tax will be differentiated based on the neighborhood. In the city center, there will be a tariff of 6 percent of the room price. Outside the center and above the IJ, the tariff will be 4 percent. Holiday rentals and Bed and Breakfast establishments will fall under the 6 percent tariff. According to the city, this measure will result in additional tax revenue of about 9 million euros per year and will also stimulate the spread of tourists across the city.

Amsterdam is also investing 1 million euros into extra security measures in busy areas, that should limit the risk and impact of a potential attack. An extra 1.8 million euros is going towards the work brigade, 1.5 million euros towards dealing with teacher shortages, and 1.8 million euros towards art in public spaces. 

The budget includes investments in resolving structural problems - 2.5 million euros is going towards solving problems in the GGD, 1.5 million euros for social work and 10 million euros for resolving structural problems in the city districts. 25 million euros is reserved for future wage and price increases within the municipality, and 5.5 million euros for wage and price increases for subsidies.