Amsterdam Presents the Spring Memorandum 2024
Today, the alderman presented the 2024 Spring Memorandum. This document outlines changes compared to the budget, such as financial windfalls or decisions to invest more in certain areas. In this blog, you can read our initial reaction to the Spring Memorandum: we are pleased with the investments but have concerns about the long term.
Good choices
There are some financial setbacks, but mostly windfalls. For instance, Amsterdam has received more money from the central government and faces lower interest costs. As a result, Amsterdam can make several additional investments.
We are pleased with the decision to set aside extra money for the bridge over the IJ. This is crucial for improving the accessibility of Noord, which becomes increasingly important given the large housing ambitions in this district. Previously, we were critical in the council that insufficient funds were reserved for the bridge. The 100 million euros available so far was far from enough to realize the bridge. With the additional 120 million euros now allocated, the bridge is finally within reach.
Another investment we support is the decision to spend 15 million euros on the construction of a teacher campus, which would create 80 affordable homes for teachers. Although this is a drop in the bucket considering the current shortage of homes and teachers, every little bit helps. After all, every home and every teacher counts.
Lack of choices for a structural problem
Despite the room for investments, these remain financially challenging times. Municipalities are soon expected to receive less income from the central government, referred to as "the cliff." The new cabinet's coalition agreement presented this week does not provide clarity on this. There is no structural solution yet. The Spring Memorandum barely addresses this. It mainly refers to the so-called governance assignment. This is a study conducted by the municipality to gain more insight into its finances so that the executive and the council can decide what we will and will not do. Less money forces us to make sharper choices. The problem is that the governance assignment has been delayed for years, and interim results expected with the Spring Memorandum are still unavailable. Decisions on structural solutions for the cliff are again postponed. This leaves it unclear who will have to pay the bill and with what money.
In the coming weeks, we will further study the Spring Memorandum and discuss it in the committees. On June 26 and 27, the Spring Memorandum will be addressed in the city council.
The Spring Memorandum can be read on this municipal webpage. (Dutch only)