Council to discuss medium term financial plan

Hull City Council’s Scrutiny Committee and Cabinet are set to discuss the council’s financial strategy through to 2026.

Council Leader, Councillor Mike Ross, said: “The majority of money spent by the Council is grants from the Government, and we don’t know yet if the Government will increase their grants to keep pace with rising costs. We will certainly be lobbying hard for them to at the very least increase the grants they give to Hull to keep pace with rising costs.

“It’s important for the Council to have a realistic and up to date financial plan. Like households across the city looking at their own home budgets, the rising cost of living is an issue for the Council. Many of the raw materials the Council uses have shot up in price. Just as the cost of fuel bills is putting pressure on residents’ household budgets, rising energy prices are increasing the cost of running the Council’s buildings and services.

“That’s why we need to review how to spend taxpayers’ money wisely, make every penny count and make sure the services people most depend on are prioritised.”

Councillors will consider a proposal to ask council staff to identify ways to save one percent from council budgets this financial year, and another three percent next year. They will look at ways to increase the Council’s income, reduce costs and modernise ways the Council works.

Scrutiny will discuss this issue on 22 July and Cabinet on 25 July.

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