Issue - meetings

Medium Term Financial Plan

Meeting: 01/09/2021 - Cabinet (Item 20)

20 Medium Term Financial Plan 2021 onwards pdf icon PDF 739 KB

Minutes:

RESOLVED:

 

That the Cabinet recommends to Council:-

 

(a)  That the revised MTFP, as outlined within the report and appendices be adopted; and

 

(b)  That the reporting timeline as set out in section 8 be agreed.

 

REASONS FOR DECISION:

 

As set out in the report.

 

KEY DECISION:

 

Report to Cabinet and Full Council.

 

PORTFOLIO:

 

Finance, Investment and Corporate Services / All.

 

ALTERNATIVE OPTIONS CONSIDERED/REJECTED:

 

As set out in the report.

 

DECLARATIONS OF INTEREST(S):

 

None.

 

DISCUSSION:

 

The Portfolio Holder introduced the report and referred to the funding assumptions driven by the Business Rate Retention Scheme revisions, which would require review when further clarity from the Government was given.  The Council remained committed to the effective and efficient delivery of services, and was keen to identify and explore options for partnering and collaboration with others where it would be to the benefit of New Forest residents and Tax Payers, through the County Deals process.  Further details were expected as part of the Levelling Up White Paper.

 

In response to questions on any potential cuts to frontline services, the Portfolio Holder confirmed that it was the Council’s policy not to reduce front line services, but to work in more innovative and new ways to deliver the efficiencies needed to protect and enhance services.  One example of this innovation was highlighted as the Council’s approach to commercial investment opportunities, evidenced on the Cabinet agenda with the potential development of land at Crow Lane, Ringwood.