Purpose

To provide an update on the key headlines from
the Spending Review June 2025 and potential impact of local
authority funding reform on the council’s future financial
position.

Decision

That Cabinet:
 
a) Notes the key estimates assumptions which
inform the financial forecast and the updated projected funding gap
over the medium-term period 2026/27 to 2028/29; and
 
b) Agrees the proposed approach and timetable
for revenue and capital budget setting for 2026/27.

Alternative options considered

Cabinet may choose to review financial
position and performance more or less frequently; or request
alternative actions to deliver financial planning arrangements,
including referral to the relevant scrutiny committee.