MAYOR Ken Livingstone wants to raise council tax by 29p a week, but has "frozen" how much Londoners will pay towards the Olympics.

The mayor announced today that his draft budget would include a 5.2 per cent rise in his share of council tax. The rise will amount to an extra £15.08 a year for a Band D household.

Of the 29p, he said 80 per cent would be spent on extra police resources and the rest would fund fire and emergency services.

The Olympic element of the council tax precept will remain at 38 pence a week for an average London council tax payer, despite the 2012 budget expected to rise to £6 billion.

"I have given a guarantee to Londoners that they will not have to pay more than 38 pence a week towards the cost of the 2012 Olympic and Paralympics Games," Mr Livingstone said.

"Today's confirmation that there will be no increase in the Olympics section of the council tax demonstrates that the recent scare stories about escalating council tax bills were incorrect.

"My commitment is that it will remain the same the year after that and in every succeeding year."

Mr Livingstone said another "one or two pence" could be shaven off when the draft budget opens for consultation. The final version is to be agreed at the end of January.

Not including the Olympics element, City Hall's precept increased by 27p last year, the year before by 26p and in 2004/05 by 33p.

Liberal Democrat leader Mike Tuffrey said the mayor's precept would be far higher than in most London councils.

"Ken Livingstone has more than doubled his tax take since he came to office and it's time he learned to balance his budget. Londoners are fed up paying sky-high council taxes. We need a fair system based on people's ability to pay," Mr Tuffrey said.

The mayor said he could have frozen the precept, but said policing was a priority most Londoners would be prepared to pay for.

"The results and benefits for London and Londoners are clear for all to see. Between April and October we have seen a further 7 per cent reduction in crime, with residential burglary down by nearly 8 per cent and gun crime down by over 17 per cent," he said.

"Polls have shown Londoners are willing to pay a modest additional price for the extra security more police bring to their neighbourhoods."