RESOLVED: That Cabinet:
(1) Noted the Council’s expected funding for 2025/26.
(2) Confirmed (in line with the Medium-Term Financial Strategy) that budget forecasts should be based on increasing Council Tax by 2.99% (the maximum amount allowable without a local referendum). Noting that Government have assumed Council Tax will increase by the maximum allowed in calculating Core Spending Power.
(3) Noted that the Council may see real-term reductions in its funding in future years.
(4) Agreed. in context of the above, which proposals (revenue and capital) should be taken forward as part of the budget-setting process for 2025/26.
REASON FOR DECISIONS: To ensure that all relevant factors are considered in arriving at a proposed budget, Investment Strategy and Council Tax level for 2025/26, to be considered by Full Council on 27 February 2025.