RESOLVED: That Cabinet:
(1) Noted the latest funding forecasts for 2024/25 onwards and the significant uncertainty that still remains.
(2) Confirmed that it will be necessary to increase Council Tax by the maximum amount allowed without a local referendum, as this is what will be assumed by Government in determining the Business Rates that the Council can retain and calculating the Council’s Core Spending Power.
(3) Noted the comments made at the budget workshops, and comment on the inclusion of the revenue savings and investments in the budget to be brought back for consideration in February, for referral on to Council at the end of February.
(4) Considered the additional revenue investment proposals that are detailed in paragraph 8.8 and confirm that they should be included in the February budget report.
(5) Noted the comments made at the budget workshops, and comment on the inclusion of the capital investments in the Investment Strategy to be brought back for consideration in February, for referral on to Council at the end of February.
REASON FOR DECISIONS: To ensure that all relevant factors are considered in arriving at a proposed budget, Investment Strategy and Council Tax level for 2024/25, to be considered by Full Council on 29 February 2024.