PCC Balanced Budget approved
Peterborough City Council members agreed the 2nd tranche of the council’s Medium Term Financial Strategy at their meeting on 8th March, after lengthy debate and much posturing from the opposition benches we managed to get a majority agreement on the prudent Conservative proposals we put forward for the City’s finances.
Introduced by my fellow NWCCA member Cllr David Seaton, PCC Cabinet member for resources, this very well written document reflects the massive financial pressures being inflicted on local authorities and details our response to the increasing demands on our resources and services, Adult Social Care in particular.
Over the course of this Parliament councils are expected to face additional funding cuts of 40% nationally, meaning an extra £20bn of savings must be found nationally to meet this gap.
When taken together with the cuts experienced since 2010, the total reduction to local government funding by 2020 will hit 64%. This is obviously a huge challenge to us at Peterborough and, as one of the fastest growing cities in the UK, the changes to the New Homes Bonus grant affects us more than others. We must find ever more new and innovative ways to deliver our services to ensure a sustainable financial future for the council.