The extraordinary plenary session of the Lanzarote Council, to be held this Thursday, July 9, will greenlight the incorporation of almost €53.5 million from its treasury surplus into the 2026 budget. These funds will be allocated to new investments, payments, and various forms of aid.
According to Vice President and Head of Finance, María Jesús Tovar, €8 million will be designated for free public transport in Lanzarote, with the expectation of recovering this sum through state transfers. Another significant allocation of €14 million will be used to settle the debt inherited from the previous administration, which financed major investments.
Nearly €6 million will be dedicated to facilitating housing access for residents of Lanzarote and La Graciosa, aiming to increase the public housing stock. Furthermore, at least €2 million are earmarked for improvements to water cycle infrastructure, with the possibility of an upward revision.
The remaining funds will be used for financing the Island Consortium of Emergencies, sponsoring actions by the Lanzarote External Promotion Society (SPEL), and for Social Welfare initiatives. The agreement will also support the Municipal Cooperation Plan for 2026, budgeted at approximately €6.4 million, as reported by CANARIAS7.
The island's president, Oswaldo Betancort, stated that the agreement aligns with the government's key objectives and the social investment carried out, emphasizing that they are meeting obligations that are not strictly theirs to ensure 'collective well-being'.
María Jesús Tovar added that 'actions and initiatives can be executed in important and demanded areas where greater investment effort is needed'.
