Issue - meetings

Committee considered a report provided as a slide presentation by the Assistant Director – Finance & Resources regarding the setting of Council Tax for 2022/2023.

Members were advised that financial information for 2022/23 – 2024/25 was currently being updated as part of the budget process and figures for 2025/26 were also being calculated for the first time.

Some big changes had been expected to local government finances over the last few years but these had been thrown into uncertainty by the Coronavirus pandemic.

With regard to changes to business rates retention, the introduction of the ‘Fair Funding Review’ and the ‘Business Rates Reset’ in particular, would affect the Council probably detrimentally, when or if they occurred. 

The Government would again assume the Council had increased its Council Tax by the maximum allowed when they calculated any grants or limits payable to the Council. 

If the Council increased Council Tax each year by the maximum allowed as per the Government assumption, the extra council tax raised by the end of the current Medium Term Financial Plan (2025/26) would be £(447,964).

Moved by Councillor Tom Munro and seconded by Councillor Peter Roberts

RESOLVED that the report be noted.