Purpose

The
report recommends to Cabinet the draft budget proposals for the
2025/26 financial year and 2025-30 Medium Term Financial
Plan.  Prior consideration and scrutiny
of the budget and business plan proposals to be undertaken by the
Budget Development Overview and Scrutiny Committee in October
2024.

Content

It was
moved by Councillor Harris, seconded by Councillor Taylor
and
 

RESOLVED:
 
1. 
That the Cabinet responses to the recommendations of
the Budget Development Overview and Scrutiny Committee, as set out
in section 2 of the report, be confirmed and that the draft budget
proposals for 2025/26 presented in the report, be used as the basis
for the public consultation running from 15 November 2024 to 5
January 2025.
 
2. 
That the key assumptions in relation to inflation
and core resources be approved as the basis for setting the 2025/26
budget including:

 
i. 
a 4.99% Council Tax increase, inclusive of a 2%
adult social care precept.
 
ii. 
the application of 100% Council Tax Premium on
Second Homes.
 
iii. 
the continuation of 100% Business Rates Retention as
confirmed in the Chancellor’s Autumn Budget.
 
iv. 
a funding settlement of grants from the Government
that generally assumes a rollover of the same amount of funding
received for 2024/25, apart from that which is specifically
detailed in the report, and which indicates otherwise.
 
v. 
an assumed nationally agreed pay offer for employees
of 3% for 2025/26.
 
vi. 
the addition of Foundation Living Wage (FLW)
increases for Council staff and where FLW is paid as part of our
contractual arrangements with suppliers and providers.