Cabinet members endorse proposed budget for 2022-23

Cabinet members at Thanet District Council have tonight (Thursday 27 January) endorsed the proposed budget for the financial year 2022-23.

The budget will now proceed to a Full Council meeting on Thursday 10 February for final approval.

The Cabinet considered three proposals for alternative uses of the New Homes Bonus which had been put forward by the Overview and Scrutiny Panel at their meeting on Tuesday 18 January.

The proposals were as follows:

1. To allocate up to £125,000 from the New Homes Bonus allocation for the capital works required to the Ramsgate Eastcliff and Viking Bay coastal lifts to ensure they are in full working order for the foreseeable future;

2. To allocate the full remainder of the New Homes Bonus allocation as capital to provide additional in-house temporary accommodation;

3. To transfer £200,000 from the risk management reserve to a new climate risk and opportunity reserve.

Following careful consideration, members of the Cabinet determined not to adjust the budget to accommodate the proposals.

Cabinet Member for Finance, Cllr David Saunders explained this decision: “The council has a statutory duty to deliver a balanced budget. As a result of careful and efficient planning, we are tonight endorsing a budget that does exactly that. Whilst additional funding from the Government is welcomed, we have to allocate this in the most appropriate and prudent way.

“Much like our colleagues on the Overview and Scrutiny Panel, we see the pressures being placed on our housing supply, the importance of restoring our seaside lifts and the need to continue supporting our climate change agenda. Indeed, we have robust and more viable plans already in place to support each of these important areas.

“Given ongoing uncertainty around the future of local government funding, our priority now absolutely has to be ensuring we have a solid financial footing to support us over the coming years. This will be essential if we are to continue to deliver vital public services and support our most vulnerable residents. It is for that reason we will be presenting our budget as it stands to the Council next month.”

Read the full introduction given at the Cabinet meeting by Councillor David Saunders