A Budget for Sustainable Investment and Growth

A Budget for Sustainable Investment and Growth

7/3/22- Broxtowe Borough Council has set its budget for 2022/23 with an exciting capital programme which will see continued investment in the Borough’s town centres, housing, parks and open spaces, as well as community initiatives.

Broxtowe Borough Council has set its budget for 2022/23 with an exciting capital programme which will see continued investment in the Borough’s town centres, housing, parks and open spaces, as well as community initiatives.“ We’re very proud of this ambitious and exciting budget,” said Deputy Leader of the Council, Councillor Steve Carr. 

“There’s no doubt we continue to live in challenging times financially. There is a small £350,000 budget gap this year which we have covered from our reserves and we no longer receive a revenue support grant from government to help fund our services, but the investments we’ll be making now will help us prepare for significant developments coming to Broxtowe by supporting our town centres and local businesses to grow. In order to help tackle the shortage of affordable housing, we are investing in a significant new housebuilding programme”

“Whilst there is a small increase to Council Tax to help us to invest in our services and meet the needs of local people, this increase has been kept to as low as possible.”

Chair of the Finance Committee, Councillor Greg Marshall said: “I am proud to deliver a 'no-cuts to jobs or services' budget. Our carefully considered and planned approach puts us in a healthy position to keep on providing for our communities. We remain committed to our dual approach of finding innovative ways to balance the budget, and lobbying government to ensure we get a fairer share of local government financing for the people of Broxtowe.”

Highlights from the budget include:

  • No compulsory redundancies or cuts to front-line services
  • In the region of a £3.5million investment in building new homes, as well as homes which enable people to live well, such as those affected by dementia and veterans.
  • A 4.1% increase in housing rent and garage rent so that more money can be invested back into housing stock.
  • Small increase in Broxtowe’s element of Council Tax. This would see a £5 annual increase per Band D property taking it from £171.85 in 2021/22 to £176.85 in 2022/23.
  • The Economic Development budget proposals includes the successful Stapleford Towns Fund bid (£21m investment plan) and support to the Levelling-up bids for Eastwood and Kimberley
  • Support to Town and Parish Councils activities to mark Jubilee celebrations
  • Funding to help support the Green Futures campaign to tackle climate change and reduce our carbon emissions to net zero by 2027
  • Continued support for people with disabilities through the Disabled Facilities Grant scheme
  • In 2021/22, £30,000 was spent on general play area improvements with rubber impact absorbing surfacing installed at Hall om Wong Kimberley, Hickings Lane Recreation Ground Stapleford and Inham Nook Recreation Ground Chilwell. At Queen Elizabeth Park Stapleford a large replacement play unit has been installed.

 


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