Posted: Tue 29th Aug 2023

Conwy Council predicts “potential shortfall of between £20M and £30M” in 24-25

news.wales / newyddion.cymru
This article is old - Published: Tuesday, Aug 29th, 2023

Conwy Councillors will discuss the financial outlook for the forthcoming year when they meet this week to plan the timetable for setting the 2024/25 budget. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Speaking ahead of the Special Finance and Resources Overview and Scrutiny Committee meeting, Cllr Mike Priestley, Conwy’s Cabinet Member for Finance, said: “The report sets out our planned timetable and governance arrangements for the coming months as we work to set the budget for 2024/25. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“At this stage, there are some financial uncertainties, so we have had to make assumptions about the main aspects of the budget, such as price inflation, demand for services, pay awards, and grant funding from the Welsh Government. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“Based on these assumptions, the current outlook for 2024/25 points towards a potential resource shortfall of between £20M and £30M subject to the variables ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“Councillors will need to consider how to bridge the gap in the Council’s funding shortfall. Essentially the Council will have no choice but to reduce its expenditure in a number of areas which is likely to impact on the level of services and raise additional income.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Councillors will receive regular updates and opportunities to debate the budget over the coming months. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Welsh Government is expected to confirm its final local government settlement in early March, but has indicated a 3.06% increase across Wales. However, the Welsh First Minister recently announced that Welsh Government is facing its toughest financial situation since devolution, therefore it’s unclear whether the allocations to local government will be revisited by the UK or Welsh Governments. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Full Council will meet on 29 February 2024 to finalise and agree the budget and Council Tax for 2024/25. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​



Spotted something? Got a story? Email News@News.Wales



More from All

CCTV released after assault on board a train in Cardiff

News

Update: Incident On Nelson Road, Ystrad Mynach, Near To Ystrad Mynach Train Station

News

Police Urge Public To ‘Give Up The Gun’ With Firearms Surrender

News

NRW Urges Visitors To “Keep It Clean”

News

Dogs Are The Most Persecuted Pet, New Figures From RSPCA Cymru Reveal

News

Lambs Contaminated Due To Dog Fouling

News

Latest from News.Wales

Ukrainian mother in Vale of Glamorgan opens up on delays to new accommodation

Vale of Glamorgan Council

Conservative Senedd Member Accuses Liberal Democrat-Led Council of Selling Off County Farms

Powys Council

Powys Health Board Members Advised to Cut Minor Injury Unit Hours Despite Strong Opposition

Powys Council

Powys Councillors Urge Chancellor to “Pause” Pensioner Means Testing for Winter Fuel Payments

Powys Council

Historic Cabin Planned as New Café at Herefordshire Garden Centre

Powys Council

Plans Approved for Pedestrian Crossing at Service Station Near Severn Bridge

Monmouthshire Council