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Home NATIONALHelsinki to invest in residential, transport sectors
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Thu, 09 Oct, 2014 12:00:04 AM
FTimes -STT Report, Oct. 9
Jussi Pajunen,the Mayor of Helsinki during Wedneday's budget proposal for 2015 at a press conference at the City Hall on October 8, 2014. Photo Lehtikuva
The City of Helsinki will invest in new residential areas and public transport, said  mayorJussiPajunen during the presentation of the city's 2015 budget.
According to the city's next year budget proposal,the municipal tax rate is set to remain at 18,5 percent said an official release from city.The loan stock of Helsinki will grow by 280 million euros in 2015 with the figure inclusive of Helsinki City Transport (HKL).
”The budget proposal enables basic services at the current level to the people of Helsinki. The municipal tax will not be raised. The investments will be used to ensure the construction of new residential areas and a working public transport system." said Pajunen in the release.
The city's budget is in accordance with the City's Council strategy programme.
During the Wednesday's proposal,the population is expected to grow by 9,000 for the rest of this year and next year said the release.By the end of 2013, Helsinki’s population stood at 612,664.
The Helsinki City Hall. Photo Lehtikuva
According to the budget proposal,the overall tax revenues of Helsinki are estimated bring 3,013.5 million euros to the public coffers while state subsidies are expected to grow by 2.2 percent.The municipal tax is estimated to account 52 percent of the revenues and is projected to bring 2,486 million euros.
The city's expenditure is estimated at a total of 4,686.9 million euros with the Department of Social Services and Health Care, special health care and social assistance accounting to 47 percent of the total expenditure.The share of education expenditure is estimated at 14 percent 666 million euros
According to the release,the biggest investment projects for the period 2015–2017 are the pre-construction works and the streets and parks in Kalasatama, Pasila, Länsisatama and Kruunuvuorenranta.Similarly,other major investment projects include the rebuilding and alteration works of the Helsinki Vocational College’s premises in Roihuvuori and on Teollisuuskatu.
An annual allocation of 447 million euros has been set for the ten-year investment programme which is an accordance with the Council's strategy programme. 
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