RESOLVED

That Cabinet

1).    Notes the financial information arising from the Provisional Settlement 2016/17 and that the financial implications will be incorporated into the draft MTFS 2016-20 and draft capital programme 2016-20.

2).    agrees the Council Tax Base for 2016/17 set out in paragraph 8 and Appendix 2

3).    notes the latest update of the draft MTFS for 2016 – 20

The Cabinet Member for Finance presented the report which provided a further update on the Business Plan 2016-20. The updates related mainly to the medium term strategy as it had been adjusted based on the findings from the Government’s Corporate Spending Review, but it was emphasised that the final settlement details have yet to confirmed. We were working on the assumption that it was likely to be 25% reduction in the settlement, but it looks more like a 40% reduction, that equates to £10mil over next 4 years. It was noted that there was also still some uncertainty over the level of payment the Council would receive from the new homes bonus.

The Cabinet confirmed that they were still committed to retaining the Council Tax freeze. It was noted that the Government announced that they were to amended the rules over the level where a referendum was required for increases of Council Tax to 4% and that there was an option of a 2% increase in Council Tax solely for Adult Social Care. The exact details on how both of those changes would work had yet to be clarified.

RESOLVED

That Cabinet

1).    Notes the financial information arising from the Provisional Settlement 2016/17 and that the financial implications will be incorporated into the draft MTFS 2016-20 and draft capital programme 2016-20.

2).    agrees the Council Tax Base for 2016/17 set out in paragraph 8 and Appendix 2

3).    notes the latest update of the draft MTFS for 2016 – 20