Economic recovery is the focus in the District Council's budget for 2021/2022
January 14, 2021
We are inviting residents, businesses, and interested parties to have their say on our draft budget proposals for 2021/2022.
We continue to face financial uncertainty, especially in terms of central government funding and recognise the unprecedented challenges faced by all residents and businesses in the district.
This budget will look at redressing the imbalance created by the COVID-19 pandemic and focus on financial support to underpin economic recovery whilst ensuring we remain financially resilient and able to deliver the services we have to by law, including support to the most vulnerable residents.
We are proposing a Council Tax rise of 3.49% - £4.95 per year - an extra 9.5p per week for a Band D property. Our element of the Council Tax remains one of the lowest in the country and is 8% of the overall Council Tax bill we collect.
Whilst Government funding to support local services is expected to continue to reduce over the coming years, in 21/22 we do have the opportunity to invest in a number of priority areas in line with our Corporate Strategy.
As well as maintaining existing service provision, the draft budget proposes:
- Additional income from commercial activities.
- Ongoing savings arising from reduced expenditure on supplies and services, staffing and vehicle costs.
- Continued savings through the Strategic Alliance with Boston Borough Council.
- Increased capital investment in our assets to help generate more income, reduce maintenance and other running costs and help deliver services more efficiently.
- To support our reserves to help protect against future volatility in Business Rates income.
- A re-distribution of revenue funding to provide additional focus on economic growth, market town investment, deprivation, commercial expansion and reducing the impact of the our services on the environment. The Market Towns Investment Fund will help support economic growth by building on the existing programme of interventions along the coast; and the recently agreed Carbon Reduction Strategy will help reduce the impact of the our services on the environment and will look to provide leadership across the district.
Portfolio Holder for Finance, Councillor Richard Fry, said: "This budget is hugely important in terms of ways in which the economy of the district can recover following the damage that has been caused by the pandemic. The Council needs to be financially resilient for the future to ensure it can carry out its duties and initiatives to help residents and businesses.
"The past year has been extremely difficult but the Council has continued to make some significant savings through new and more modern ways of working and that journey will continue. I'd encourage people to digest our proposals and take part in the consultation."
The consultation is open until February 8, 2021.
To read the full budget proposals and to take part in the consultation visit www.e-lindsey.gov.uk/consultation. Alternatively, you can request a paper copy by phoning 01507 601111.