The government’s Autumn Statement is “unlikely” to ease pressures on the Isle of Wight Council’s budget, its leader said in an update report.
Cllr Phil Jordan is due to present the statement to County Hall’s 39-member Full Council at 6pm this evening (Wednesday) which puts his authority’s finances centre stage.
He said:
“Local authorities across the UK were awaiting the Autumn Statement and whilst we broadly welcome the approach for local authorities the reality is that is it unlikely to result in releasing pressure on the council’s budget.
"Much detail is yet to be provided and unlikely to be clarified until the draft local government finance settlement in December.
“The good news is that the Ryde Town Fund and the Levelling Up Fund Round 3 grants for the council are to continue, but there will be changes for both and we await the final details on these.
“It is good news that the Household Support Fund has been provided for the 25/26 year and that there will be some additional funding through the UK Shared Prosperity Fund.”
Chancellor of the Exchequer Rachel Reeves’s October 30 budget announced £1.3 billion of extra funding for local authorities through the local government finance settlement, allocated for the next financial year.
National membership body the Local Government Association said in a briefing that the additional investment would help to meet “some”, but “not all” of the social care and homelessness support cost pressures currently facing councils.
A report presented to the Isle of Wight’s cabinet earlier this month showed County Hall is facing forecast cost pressures of £3.9 million relating to adult social care, £2.4 million involving children’s services and £400,000 in emergency housing accommodation.
Reeves also earmarked more than £4.5 billion in extra local government funding covering areas such as special educational needs and disabilities (SEND), the Household Support Fund, Bus Service Improvement Plans, local roads maintenance and resource funding for homelessness pressures.
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