Cabinet approves budget for 2024-25
On 5 February 2024, Full Council discussed and approved the budget and business plan for 2024-25.
Full Council considered 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, including 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 national rent policy.
Leader of the Council, Cllr Paul Zukowskyj commented “The Joint Administration has delivered a balanced budget despite the continued reduction in government funding, increased inflation, and ongoing uncertainty over our funding in the medium term. I am pleased we have been able to agree a balanced budget and identify new projects which will continue to deliver positive change for our communities across the borough.
Deputy Leader of the Council, Cllr Lynn Chesterman, added “By putting our Community at our Heart, we have minimised the increase in fees and charges as much as possible whilst identifying service improvements in our new business plan.