Council unanimously agrees new budget

Members of Thanet District Council have unanimously voted to approve the 2017/18 budget. 

In an historic decision, members across all parties gave their full agreement at the council meeting on Thursday, 9 February.

The budget, which includes over £55 million of investment over the next four years, required the Council to deal with the challenge of a £2m reduction in central government funding – which is more than a 10% reduction in income.

The Thanet District Council element of council tax for 2017/18 is projected to increase by 9.5p per week (2.3%) which is subject to final council approval. This is the equivalent of £4.95 per year on a Band D property.

Key elements

  • Efficiency savings of £770,000;
  • New income generation of £930,000;
  • Overall reduction of £2.7m, which includes an additional £450,000 of new income matched by a similar sum from council reserves.

Commitment to growth

  • The Council is committed to creating growth in the district with investment of £55.7m in the period 2017 to 2021, including £14.5m of affordable homes for rent.

Cllr Chris Wells, Leader of Thanet District Council, said: 

“The budget setting was made more complicated this year with the need to make late additional savings and the reduction in central government funding. 

“Achieving a balanced budget is evidence that the council’s finances are in a robust position. We have also been able to demonstrate our commitment to growth in Thanet through the sums allocated for investment and affordable housing. 

“This budget and its smooth passage through council is due to the openness of the work between council officers and members throughout the budget-setting process. All had to look ever more closely at how the council can generate income, not simply cut services to residents.

“The unanimous vote of approval for this budget must be unique in Thanet Council’s history – certainly in living memory!”

Press Office

E-Mail: press.office@thanet.gov.uk