Purpose

To present the draft 2026/27 revenue budget,
Medium Term Financial Strategy and the Treasury Management
Strategy. The Council has a statutory responsibility to set a
Budget and Council Tax in advance of the new financial year. The
2026/27 Revenue Budget and Medium Term Financial Strategy 2026/27
to 2029/30 will be recommended to Council in February 2026

Decision

That Cabinet:

a)   
approves the 2026/27 draft revenue budget, which includes the key
pressures for each Directorate and savings proposals, for
consultation with Members, the council’s relevant scrutiny
committees, business rate payers and the public; and

b)   
acknowledges that the funding assumed in this draft budget is an
estimate of expected funding; to be confirmed following publication
of the Final Local Government Finance Settlement for 2026/27
expected in February 2026. 2

Alternative options considered

1.    
It is open to Council to recommend alternative spending proposals
or strategies; however, given the legal requirement to set a
balanced budget, should additional expenditure be proposed
compensatory savings proposals must also be identified. If it is
proposed to spend less, the impact on service delivery of the
proposed reduction should be considered.

2.    
Council can agree a council tax increase above the referendum
principle levels. This is not recommended as doing so would require
the increase to be subject to a local referendum, incurring
additional costs to the council.