Great Yarmouth borough councillors have voted to increase its share of council tax at a full meeting.
The budget will see an increase in council tax of £5 per year for a Band D property.
In a statutory recorded vote, all the Conservative and Labour councillors voted for the budget, the Ukip councillors abstained and councillor Robert Connell voted against.
The leader of the council, Graham Plant, presented the report to councillors and said there was a £188,000 deficit in the council's coffers.
The report stated that economic growth remains a top priority for the council as well enhancing the borough as an attractive place for business investment and job-creation.
The report also recommends the establishment of a new £1m 'projects reserve', providing one-off funding that can be used as match-funding to secure external investments.
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