Issue - meetings

(i)              That the funding pressures of £1.429m in 2025/26 and £5.251m over the

  5-year period covered by the Medium-Term Financial Strategy (MTFS), be noted.

(ii)      That the approach regarding the development of savings and income

generation proposals in the medium-term, be agreed.

(iii)           That the continued uncertainty regarding the medium-term impact of local government funding, be noted.

The Deputy Leader introduced the report on the Medium Term Financial Strategy and the financial pressures facing the Council for the period 2025-26 to 2029-30.

The Portfolio Holder for Sustainable Environment commented that he would be meeting with the four officers in his portfolio and would be reporting his finding to the Efficiency Board later in the month.

The Leader provided background information on the Efficiency Board process set to achieve savings as part of the budget which would be submitted to Full Council in February 2025.

The Leader also reminded members of the commitment for the Council Tax increase to remain not higher that 1.9% which the Council had so far managed to deliver. This was particularly relevant considering the current situation in terms of cost of living and a loss of allowances for 23,000 pensioners in Newcastle.

Resolved:    (i) That the funding pressures of £1.429m in 2025/26 and £5.251m over the 5-year period covered by the Medium-Term Financial Strategy (MTFS), be noted.

(ii) That the approach regarding the development of savings and income generation proposals in the medium-term, be agreed.

(iii) That the continued uncertainty regarding the medium-term impact of local government funding, be noted.

Watch the debate here