Saturday 7 May 2016

The City of Melbourne's annual budget was released this week and QVM gets a big chunk of the expenditure.

The Council will raise $430 million in revenue with a surplus over $15 million, and is budgeting $8.45 million towards the Queen Victoria Market. Market renewal is the single biggest project in the city's history and council has set aside a special renewal reserve so that any funds from QVM will go into that reserve for the exclusive use of renewal. The income from QVM in the budget year is expected to be around $4 million.