01/29/2014 07:45 EST | Updated 03/31/2014 05:59 EDT

Mayor Denis Coderre to unveil Montreal budget today

All eyes are on city hall this morning as Montreal Mayor Denis Coderre gears up for his administration's 2014 budget.

The budget proposal will reveal whether Coderre follows through on a major campaign promise — his pledge to limit tax increases to the inflation rate.

In Montreal, the inflation rate is less than 1 per cent right now.

It's a promise some are saying will be hard to keep, but yesterday the mayor suggested he had no intention of breaking it. 

“This is a budget of transition. You'll see we are taking our responsibility, but I made some promises during the campaign that I intend to keep,” he said. 

The budget is expected to be about $5 billion, up slightly from the $4.9 billion budget in 2013. 

In his first days in office, Coderre also hinted at new investments for infrastructure, public transit and Montreal’s cultural scene. 

Whether or not that translates into his administration's plan is yet to be seen. The budget is set to be released to the public at 10:30 a.m.

Last budget sparked anger with 3.3% hikes

Compared to the last city budget, which sparked fury with its proposed 3.3. per cent average property tax hikes, today's budget is likely to meet with less controversy.

The 2013 budget was tabled by former mayor Gérald Tremblay in October 2012, around the same time that allegations of corruption at City Hall emerged.

Tremblay stepped down a few days later, after his administration back-peddled on those hikes.

When former Mayor Michael Applebaum took over the city's leadership, he lowered the tax increase to 2.2 per cent.