In last Friday’s full council meeting, the cabinet agreed the budget proposals for 2021/22.
Council tax will rise by 4.99% meaning those in the lowest band will pay an extra £1.10 per week.
The proposals include funding children’s centres across the city and additional money for the city’s rough sleepers.
The council also committed money to continue developing Paddington Village in the Knowledge Quarter.
The proposal for One Stop Shops to become pop-up facilities was amended, and now two of the sites are to remain open full-time.
The proposals will be voted on at the next meeting on Wednesday March 3, following examination from the Audit and Governance select committee.
Wendy Simon, Acting Mayor said: “We are setting aside a substantial sum of money to help kick start our economy as we emerge from the pandemic.”
She added: “Asking people to contribute more in Council Tax is not something we want to do, but if we don’t we would have to cut other services.
“These are extraordinarily challenging times, but I firmly believe this budget marries the compassion and ambition needed to put Liverpool on the strongest possible footing for the future.”