Decision details

Cabinet was updated on the Council’s Medium Term Financial Strategy and the progress with the delivery of the Business Strategy. There were a number of significant issues concerning local government finance that would have a major impact upon the financial position of the Council. They included the current and ongoing economic impact of inflation on pay and prices, uncertainty on the outcome of the financial settlement from central government, and the delayed Fair Funding Review that intended to review the level of business rates retention.

RESOLVED that the updated Medium Term Financial Strategy and the Business Strategy 2025/26 be approved.

Reason

To be accountable for all activities and actions and to ensure that the Council conforms to all financial regulations. The Medium Term Financial Strategy was the Council’s key financial planning document.