Cabinet approves budget for 2024-25

The proposals set out the revenue and capital budget for 2024-25 which will allow the Council to deliver services and projects in line with its business plan, priorities and vision. This includes a further £14m investment in new council housing.

Due to the high level of inflationary pressure that has been on the Council for the past two years, and in line with the Council’s fees and charges strategy, all fees and charges have been increased by 10%, unless there is a clear rationale for an alternative approach. However, it is proposed to increase Council Tax by 2.96% which is significantly below the rate of inflation and housing rents are to be increased by 7.7%, in line with Government legislation.

Executive Member for Resources, Cllr Duncan Jones commented “The Council’s ability to deliver a balanced budget becomes more challenging each year, as government funding has reduced, inflation has increased, and we have continued uncertainty over our funding in the medium term. We have had to make some difficult decisions to deliver this balanced budget, but I am pleased we have been able to do this without any significant adverse changes in services for our residents”.

He added “The cost of living continues to impact all of us all and we understand the impact of increasing any fees and charges on our communities.  We have tried to minimise the increases as much as possible and in line with the views of our community, we also continue to lobby the government for more funding”.

Full Cabinet papers can be viewed online.

The budget proposal will be considered by Overview and Scrutiny Committee (OSC) on 16 January 2024. 

Recommendations made by OSC and any changes will be presented to a Special Cabinet on 23 January 2024, in order to recommend the budget proposals to Full Council at its meeting on 5 February 2024.