Telford & Wrekin Council's budget plans for 2024/25 approved at Full Council meeting
Telford & Wrekin Council’s budget plans for the financial year 2024/25 have been approved at a Full Council meeting on Thursday 29 February 2024, enabling the local authority to continue funding and delivering vital front-line services for the borough’s communities.
Telford’s successfully balanced budget comes in spite of a hugely challenging national economic backdrop, which has seen a number of UK councils issue a Section 114 notice in recent months, lacking the funding to keep key services running.
In contrast, to maintain the quality and accessibility of essential services in Telford and Wrekin, the council has carefully developed its medium-term financial strategy, identifying areas that will deliver savings totalling more than £17.5m, while simultaneously allocating resources for strategic investments.
The council says these measures were essential to meet the evolving needs of residents and the soaring costs of delivering vital front-line services such as social care, whilst also helping to plug the gap created by long-term reductions in central government funding.
To achieve the necessary savings without compromising service quality, Telford & Wrekin Council will implement prudent measures including streamlining administrative processes, optimising resource allocation and leveraging technological advancements to enhance operational efficiency.
Despite the imperative to make savings, the council has renewed its commitment to investing in key areas that benefit residents, including projects that promote long-term prosperity and initiatives designed to generate income to help mitigate against national economic uncertainty.
Councillor Nathan England (Labour), Cabinet Member for Finance, Customer Services and Governance, said:
“Our investments will focus on growing our asset base and income streams – for example with £100m investment planned for Nuplace and Telford & Wrekin Homes – in addition to infrastructure development and education, aligning with our vision for a vibrant and resilient community.
“Recognising the importance of fiscal responsibility and the need to ensure sustainable funding for essential services, we have taken the difficult decision to adjust the council tax rate for the upcoming financial year.
“While this 4.99% increase will result in an extra £1.09 per week for a Band B property, Telford and Wrekin households will continue to pay the lowest rate of council tax in the Midlands for the high-quality services we deliver.
“The increase will raise more than £4m, which we will direct entirely into social care, supporting the most vulnerable adults and children in our borough – a vital but costly service which now accounts for three quarters of our annual revenue budget.
“We remain dedicated to serving the needs of our communities and fostering a thriving environment for all residents. By prioritising prudent financial management and strategic investment, we are confident in our ability to continue delivering exceptional services and driving positive change across the borough.”
