EDDC’s strategy for dealing with budget deficit: bleed residents dry?

“There is a significant shortfall projected in 2020/21 (£1.412m) which is as a result of an assumed rebasing of business rate income thereby reducing our income by £1.2m. It is proposed in the Finance Plan that work is started now in bridging this gap and driving self- sufficiency of the Council. Members have indicated that the strategic theme within the Transformation Strategy “Maximise the value of our assets through commercial thinking with a focus on income generation, sustainability and developing local economies” is one they believe has significant potential. The Financial Plan considers how this might be progressed with the use of a Member Group (possibly the Budget Working Party) to consider business cases and suggests that a fund is created to unlock barriers to the Council progressing this aim. Detailed recommendations will be presented within the 2018/19 Budget approval process.”

http://eastdevon.gov.uk/media/2223086/041017-cabinet-agenda-combined.pdf
page 60

2 thoughts on “EDDC’s strategy for dealing with budget deficit: bleed residents dry?

  1. When in the future we have to pay for every individual council services, we may well wonder where our Council Tax is going.

    The answer, in part, will obviously be: Servicing the debt on the new council offices in Honiton.

    And if interest rates rise – as the Bank of England has indicated – it is easy to see how these interest payments could double or triple from their current low rate.

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  2. I have been saying the council will be bust by 2020. Not raising council tax for years was stupid as small rises would have banked cash. Not to do so when the grant from government was reducing to zero was incompetent or worse. But what about the cost of the new offices??? Councils should not be profit making businesses but that is what the Tory govis making them become and with the assistance of Tory councils.

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