Council budget approved for Full Council consideration
Telford & Wrekin Council’s cabinet has today approved recommendations set out in the authority’s Medium Term Financial Plan to go forward to Full Council for consideration.
The recommendations, which were open to public consultation until 4 February, include a proposal to raise council tax by 4.99% for 2024/25, with the income generated to be fully invested in the provision of social care, supporting the most vulnerable members of the Telford and Wrekin community.
The report, which was approved in Thursday’s cabinet meeting, noted unprecedented financial pressures faced by local authorities across the country due to a combination of escalating demand and costs associated with delivering social care – Telford & Wrekin Council’s largest expenditure – alongside reduced government funding and increased economic uncertainty.
The strategy recommended a number of savings for 2024/25 totalling £17.567m, and noted plans to continuing working with partner organisations, including Town & Parish Councils and Voluntary Sector and Community Groups, to seek to identify ways to mitigate the impact of some of the necessary cuts to services.
The council’s plans also recommended a total of £420m in capital investments over the medium term, including more than £100m to expand council-owned housing initiatives, Nuplace and Telford & Wrekin Homes, which generate significant ongoing income for the authority, helping to fund front-line services.
Other major investment proposals include more than £65m to support further Growth Fund initiatives, bringing new employment opportunities to the borough, and more than £40m for education projects including school expansions to increase pupil places.
Cllr Nathan England, Cabinet Member for Finance, Customer Services and Governance, said:
“We’re grateful to everyone who shared their feedback on our budget proposals during the consultation and engagement period. We will continue to work with our community to find the best solutions for all during this challenging economic time.
“I’m proud of our council’s strong track record of sustained and effective financial management. We have successfully invested in developing new income streams which have proven vital to maintaining our front-line services.
“Thanks to effective budget management, in 2024/25 we will continue to have the lowest council tax in the Midlands, saving Telford and Wrekin households £276.24 per year compared to the average Midlands ‘Band D’ property.”
