The Socialists over spent and we're having to pick up the pieces and make do with a shortfall of at least 40 million euros, Isern said.
The Mayor said that he and his team have tried to draw up a realistic budget with what funds they have been left with, but in order to do so, some investment plans have had to go by the wayside.
Looking to the future, Isern wants to attract more private investment to Palma because that will ease the financial burden on the city council and also help to revive the capital's economy and create jobs in areas where the local authority can not.
Isern's total budget for this year is 383.9 million euros, 4.4 percent less than last year and ten percent of that will have to go towards clearing the former council's debts and unpaid bills with its suppliers.
Most departments are going to see their budgets slashed, apart from Social Services and the EMT public bus company and the EMAYA refuse company because the Mayor considers that a good public transport service and a clean city are paramount.