RESOLVED:

A. That Cabinet noted progress in delivering the Merton Council Cost of Living Strategy and Action Plan 2023 – 2025.

B. That Cabinet agreed to further expand the Merton Council Cost of Living Fund by allocating a further £1million, to be funded from the Strategic Priorities Fund reserve, in recognition of the ongoing challenges faced by local residents and businesses as a consequence of the cost of living emergency.

C. That Cabinet agreed the five broad areas of focus identified in the report against which the additional funds will be allocated.

D. That Cabinet delegated authority to the Cabinet Member for Finance and Corporate Services, in consultation with the Chief Executive and Corporate Management Team, to agree the financial allocations against each of the five broad areas of focus along with a detailed delivery plan

The Cabinet Member for Finance and Corporate Services presented the report, following a Cost of Living Emergency declared by the Council in 2022 and the creation of a £2m emergency fund and Cost of Living Strategy and Action Plan. The Cabinet Member advised that the report recommended an additional £1m be added to the fund to provide more help to residents and businesses, with the report outlining what would be done with the funding, including expanding the young savers scheme. The Cabinet Member thanked officers for their work.

In response to questions from the Cabinet, the Cabinet Member responded that the intention was to continue to hold Cost of Living Advice days as these had been very well attended and had received positive feedback.

RESOLVED:

A. That Cabinet noted progress in delivering the Merton Council Cost of Living Strategy and Action Plan 2023 – 2025.

B. That Cabinet agreed to further expand the Merton Council Cost of Living Fund by allocating a further £1million, to be funded from the Strategic Priorities Fund reserve, in recognition of the ongoing challenges faced by local residents and businesses as a consequence of the cost of living emergency.

C. That Cabinet agreed the five broad areas of focus identified in the report against which the additional funds will be allocated.

D. That Cabinet delegated authority to the Cabinet Member for Finance and Corporate Services, in consultation with the Chief Executive and Corporate Management Team, to agree the financial allocations against each of the five broad areas of focus along with a detailed delivery plan