Agenda and minutes

Councillor A R Woolf was elected as Chairman for the duration of the meeting

Where a Councillor has a Disclosable Pecuniary Interest the Councillor must declare the interest to the meeting and leave the room without participating in any discussion or making a statement on the item, except where a councillor is permitted to remain as a result of a grant of dispensation.

Councillor Woolf declared an interest at agenda item 3 in that he was the owner of an electric vehicle.

To scrutinise the draft budget for 2023/24 (report of the Deputy Chief Executive – Corporate Development enclosed).

Consideration was given to the report of the Deputy Chief Executive – Corporate Development, which asked the Joint Panel to scrutinise the draft budget for 2023/24.

The Joint Panel received a presentation from the Deputy Chief Executive – Corporate Development which highlighted the following main areas of the report:

• Spending Review for 2023/24;
  • It was noted that significant representations, from Members of Parliament and local council Leaders, had been made to central Government in respect of the Internal Drainage Board levy and how this element was embedded within the Council’s accounts;
• Revenue Budget and Medium Term Financial Plan (MTFP);
• MTFP summary;
• Budget Pressures and Risks;
• Improvements built in and further opportunities;
• Outstanding areas;
• Housing Revenue Account (HRA);
• HRA Budget Summary; and
• Timetable of the budget consultation:
  • authority from Cabinet had been delegated to the Portfolio Holder to commence the budget consultation on 10 January 2023;
  • the public consultation commenced on 20 January 2023 and would end on 10 February 2023;
  • consultation with members of the Joint Performance Monitoring Panel and Policy Development Panel was taking place at the current meeting on 26 January 2023;
  • the budget papers would be presented to Cabinet on 14 February 2023 and Full Council on 2 March 2023 where the Council Tax would be set.
• The Deputy Chief Executive – Corporate Development concluded by stating that the budget setting process had taken place against an unprecedented unstable financial environment and that numerous influential factors beyond the Council’s control were still unresolved. These included, but were not exclusive to:
  • pay settlement for 2023/24;
  • inflation;
  • investment income; and
  • business rates.

Following consideration of the report and the presentation, the following issues were raised by the Panel:

• Members thanked the Deputy Chief Executive – Corporate Development, the Assistant Director – Finance and the Strategic Finance Manager (PSPS) for producing the report and for the delivery of a clear and concise presentation.

• Members referred to business rates and stated that these were already unaffordable. Were they set to increase further?
  • The Assistant Director – Finance responded that:
    • business rates were ultimately determined by central Government. Rateable values of businesses were set by the Valuation Office Agency and multipliers applied to arrive at rates payable;
    • a review of business rates had taken place and the valuation list, to be launched in April 2023, would reflect both increases and decreases in rateable values;
    • increases in rateable values would be staggered over a three-year period; where this occurred, local authorities would be compensated from central government for any loss of income received during the intervening period; and 
    • decreases in rateable values would be immediately effective.
• Members asked for clarification of the size of shop unit which determined whether businesses rates were payable. Concern was expressed for larger shops, where rates were payable, and for empty shop units which were not contributing to the economic vibrancy of towns.
  • the Deputy Chief Executive – Corporate Development responded that:
    • a report which detailed business rate reliefs and banding values would be circulated to the  ...  view the full minutes text for item 22.

There were none.