Agenda item

Report C/19/05 outlines the Medium Term Financial Strategy.

The Leader of the Council on behalf of the Lead Executive Member for Finance and Resources presented the report which outlined the Medium Term Financial Strategy.

Council was informed that the council tax increase would be capped at 2% with anything over that amount subject to a referendum and that the Council was still expected to receive the renewable energy business rates windfall along with the New Homes Bonus.

It was noted that the business rates pilot had been stopped and a letter signed by all of the authorities in the pilot had been sent to the Prime Minister objecting to the decision.

Concern was raised at the lack of green initiatives included in the spending for the special projects reserve and the programme for growth. The Leader of the Council stated that if any Members had any suggestions for such initiatives then they could submit them for consideration.

RESOLVED:

                        To approve the Medium Term Financial Strategy

REASON FOR DECISION:

To set the framework for the 2020/21 budget and Medium Term Financial Plan to 2022/23.