Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 13, 2024

Purpose: The report recommends to Cabinet the draft budget proposals for the 2025/26 financial year and 2025-30 Medium Term Financial Plan.  Prior consideration and scrutiny of the budget and business plan proposals to be undertaken by the Budget Development Overview and Scrutiny Committee in October 2024.

Content: It was moved by Councillor Harris, seconded by Councillor Taylor and   RESOLVED:   1.  That the Cabinet responses to the recommendations of the Budget Development Overview and Scrutiny Committee, as set out in section 2 of the report, be confirmed and that the draft budget proposals for 2025/26 presented in the report, be used as the basis for the public consultation running from 15 November 2024 to 5 January 2025.   2.  That the key assumptions in relation to inflation and core resources be approved as the basis for setting the 2025/26 budget including:   i.  a 4.99% Council Tax increase, inclusive of a 2% adult social care precept.   ii.  the application of 100% Council Tax Premium on Second Homes.   iii.  the continuation of 100% Business Rates Retention as confirmed in the Chancellor’s Autumn Budget.   iv.  a funding settlement of grants from the Government that generally assumes a rollover of the same amount of funding received for 2024/25, apart from that which is specifically detailed in the report, and which indicates otherwise.   v.  an assumed nationally agreed pay offer for employees of 3% for 2025/26.   vi.  the addition of Foundation Living Wage (FLW) increases for Council staff and where FLW is paid as part of our contractual arrangements with suppliers and providers.