Full Council has approved the Royal Borough’s Budget and Council Tax for the next financial year. The council has taken swift and decisive action to address the significant financial challenges it faces. Whilst our financial position remains precarious, we are pleased to have agreed a balanced budget for 2024/25.
Despite the challenges, the council remains ambitious for the borough and will be spending nearly £100m next year on delivering essential local services. While balancing the budget has required some tough decisions, we are also investing in the borough’s critical infrastructure, including highways and schools, and increasing spending in a number of priority areas, such as new homelessness accommodation, adult social care and children’s services.
Councils across the country are experiencing serious financial challenges and demand is increasing for a range of statutory services including social care. The Royal Borough has specific circumstances which make our position especially challenging. The council’s financial stability remains precarious, and delivery of the agreed budget is dependent on a challenging programme of service transformation, together with external factors outside the council’s control.
Council Tax
Last night (Thursday 29 February), Full Council voted to increase council tax by 4.99%, which includes an increase of 2% in the adult social care precept. This level of increase is being made by most councils, but our low council tax base means that, even at the maximum increase allowed, in pounds and pence this is still a lower increase than in other areas. See our factsheet with comparison to other councils.
In our budget consultation, half of respondents agreed with proposals to increase council tax, compared to 34% who opposed. Thank you to the nearly 400 people and organisations who took part in the consultation. See a summary of the results.