The Group Finance Director has submitted a report to present the outcome of the budget consultation and approve the Council’s Medium Term Financial Strategy for 2027-28 to 2029-30 and 2026-27 Budget.

Recommendation: Council resolves to:

1.    Note the approval by Cabinet on 21 January 2026 and subsequently agreed by the Council on 26 January of an increase of 4.8% i.e. CPI+1% in line with the recent Government announcement referred to in paragraph 28 from 1st April 2026, giving an average weekly increase of £8.47 per week, and a revised weekly average social rent of £143.40 as set out in Appendix 5 based on a HRA budget as set out in Appendix 4;

2.    Approve the 2026-27 General Fund and Housing Revenue Account budgets and the General Fund and Housing Revenue Account Medium Term Financial Strategy as set out in Appendices 1-9, noting:

a)    the Council’s General Fund Budget Requirement of £32.185 million for 2026/27 and an increase in the Band D Council Tax of 2.99% or £10.66 per annum representing a Band D Council Tax of £367.38 per annum; and

b)    the General Fund and Housing Revenue Account Capital Programme as shown in Appendix 6;

3.    Agree the fees and charges shown in Appendix 7;

4.    Confirm the Council Tax Base for 2026-27 of 48,725.2 as per paragraph 17 below and Appendices 11 and 12 attached.

Amendments submitted by opposition groups (proposers may speak for up to 10 minutes). These amendments must be received by Committee and Member Services by 1.00pm three working days (Tuesday, 17 February 2026) before the meeting. These proposals will be voted on as one amendment for each group.