Economic growth and climate change at the heart of District Council's budget
March 4, 2020
East Lindsey District Council has today (March 4) approved its budget for 2020/21, which includes £1.5million towards the redevelopment of the Colonnade at Sutton on Sea and the creation of a Market Towns Investment Fund to help support economic growth through a range of targeted initiatives and interventions to help reduce deprivation in communities.
At the same time, the Council has ensured its Council Tax rate remains one of the lowest in the country, with an increase of 3.49% - £4.95 per year - an extra 9.5p per week for a Band D property.
Whilst the District Council continues to be faced with significant financial challenges over the coming years, growing the economy of the area remains a priority.
In addition to the programmes of work above, the Council is delivering a number of major projects through its new development company, Invest East Lindsey, that aim to increase income to support the delivery of services. The company's activity includes the modernisation of Kingfisher Caravan Park in Ingoldmells, which the Council owns. Further initiatives that aim to increase income will be developed over the next 12 months.
Portfolio Holder for Finance, Councillor Richard Fry, said: "We are well aware of the financial challenges we face, and will continue to face for years to come, as funding from Government continues to reduce. However, I'm hugely positive about this budget bringing forward a number of major programmes that will be hugely positive for the District, whilst maintaining the lowest level of Council Tax in the county."