The Cabinet considered a report of the Interim Corporate Director of Resources which provided an update on the development of the 2022/23 budget and the Medium Term Financial Plan (MTFP(12)) covering the period 2022/23 to 2025/26. The report also considered a review of the Local Council Tax Reduction Scheme for 2022/23 (for copy see file of Minutes).
In response to a question from Councillor Crute about the impact of the austerity measures the council had faced since 2010, Councillor Bell provided an update and in doing so referenced that the detail was mainly to be found in the body of the report.
Councillor Bell and other cabinet members thanked officers for this very comprehensive report and welcomed the budget setting timeline. They explained the significant uncertainty over local government finance, the challenges faced, issues of fair funding and with public health funding which is being taken up with central government. Until the council was made aware of the funding settlement later in the year uncertainty would continue however it was important to plan in the medium term and advised of the level of deficit based on current assumptions. Cabinet members were pleased to support the continuation of the local council tax reduction scheme.
That the recommendations in the report be approved.