Council asks for near 5% tax increase to help save £17m

Telford & Wrekin Council’s cabinet has today approved recommendations set out in the authority’s Medium Term Financial Plan to go forward to full council for consideration.

Proposals are open to public consultation until February 4th and suggest a 4.99% council tax increase for 2024/25.

Generated income will be invested in social care to support vulnerable members of the community.

The approved report acknowledges the financial challenges faced by local authorities nationwide due to rising demand and costs for social care, reduced government funding, and increased economic uncertainty, with the strategy aiming to achieve savings of £17.567m in 2024/25.

Plans also outline £420m in capital investments, including over £100m for expanding council-owned housing initiatives.

Major investment proposals include over £65m for Growth Fund initiatives, bringing new job opportunities, and over £40m for education projects, including school expansions.

Cllr Nathan England, cabinet member for finance, customer services and governance, said: “We’re grateful to everyone who shared their feedback on our budget proposals during the consultation and engagement period. We will continue to work with our community to find the best solutions for all during this challenging economic time.

“I’m proud of our council’s strong track record of sustained and effective financial management. We have successfully invested in developing new income streams which have proven vital to maintaining our front-line services. Thanks to effective budget management, in 2024/25 we will continue to have the lowest council tax in the Midlands, saving Telford and Wrekin households £276.24 per year compared to the average Midlands ‘Band D’ property.”