Thursday February 2, 2023
For immediate release
Council’s Cabinet to consider budget
Charnwood Borough Council’s draft budget will be considered by Cabinet on February 9.
The budget contains a proposal to increase the Charnwood element of Council tax by 9p a week for the average Band D property in the borough.
The proposed increase would see the annual charge for the Charnwood element of an average Band D property rise by £4.78 (3.52 per cent) from April 1, 2023.
It is also being proposed to increase the Loughborough Special Rate, the equivalent of a parish precept in villages and paid by residents of the town. It is proposed to increase the Loughborough Special Rate by £1.58 (1.99 per cent) from April 1, 2023.
The Council’s Cabinet will consider the proposed budget plans and if it is supported, the recommendation will go before Full Council on Monday, February 27.
The Council’s draft budget for 2023/24 looks to spend around £20 million on services for the borough. This includes generating extra income through fees and charges and using around £1.3 million of reserves.
The Council is also continuing to invest in the borough including:
1) A planned £2m million regeneration scheme for the centre of Shepshed, with some joint funding being provided from other sources
2) investment in local parks including £200,000 earmarked for Queen’s Park in Loughborough and around £50,000 for the creation of a Community Garden in Syston
3) £65,000 to facilitate additional EV charging points in the Bee Hive Car Park in Loughborough
Cllr Tom Barkley, the Council’s lead member for finance said: “As part of the 2023/24 budget, we are proposing to increase the amount of council tax which Charnwood receives by about 9p a week.
“Often people assume that Charnwood receives the full amount they pay because we send out the bills. However, this isn’t the case.
“Charnwood only receives around seven per cent of the total people pay.
“For this small amount, we provide a wide range of services including recycling and refuse collections, managing 600 acres of open spaces and operating three leisure centres and Loughborough Town Hall.
“We are very aware of residents’ concerns about the rising cost of living. The proposed increase to our element of council tax is not made lightly but one we feel is necessary to help protect frontline services.
“Yet again, for this budget we are squeezing the value out of every pound. There is a gap between the funding we receive and the cost of running services but thanks to careful financial management in the past, we are able to make up this difference with reserves.”
The proposed increase to the Charnwood element of council tax means the annual charge for an average Band D property will rise to £140.47.
The proposal also means the Loughborough Special Rate will increase to £81.11.
Charnwood continues to have one of the lowest council tax charges in the country.
The Council is responsible for a wide range of services including; collecting recycling and refuse from more than 70,000 homes in the borough; supporting homeless people; managing open spaces including the Outwoods; emptying dog bins, litter bins, street cleaning; food safety inspections; licensing of pubs and clubs and taxis; operating Loughborough Markets, town centre events and the annual four-day Loughborough Fair; running Loughborough Town Hall; operating three leisure centres; running Charnwood Museum with the county council; handling planning applications and strategic planning; and operating a 24/7 CCTV system.
People on low incomes can apply for Local Council Tax Support. This gives up to an 85 per cent reduction on the whole council tax bill.
The Council is also playing a leading role in Loughborough Town Deal which has secured £16.9 million of Government funding for 11 projects which are worth a total investment of over £40 million for Loughborough. The projects will improve skills, improve Loughborough town centre, create jobs, protect against flooding and support the local visitor economy.
The Council has also been awarded £4 million from the Government’s UK Shared Prosperity Fund and will be backing 10 local projects which will see improvements made to community facilities around the borough.
For more information on the Council’s draft budget, please read the Cabinet report.
ENDS