The Isle of Wight Council has unveiled its budget for 2025/26.
A spokesperson for the Council said the draft budget seeks to "tackle the substantial pressures on public finances while safeguarding the wellbeing of residents."
The council is proposing a five per cent council tax increase, including two per cent specifically for adult social care.
It will freeze parking charges at their current levels for the second consecutive year.
The budget also includes improvements at Beaulieu House, the children's disability residential and respite home in Newport.
Meanwhile, the council is introducing schemes specifically designed to help young people who are leaving the care system find stable and long-term housing options.
The budget also prioritises responsible repairs and renewals in public spaces.
Council leader, Councillor Phil Jordan, said:
"Despite the challenging financial climate, our commitment to protecting and improving our community remains steadfast.
"We are dedicated to ensuring our community continues to thrive, even in the face of economic pressures.
"One of our top priorities is the protection of our coastal areas. By investing in coastal infrastructure, we are taking proactive steps to safeguard our coastal regions from erosion and flooding.
"This investment goes beyond infrastructure; it's about securing the homes and livelihoods of our residents.
"The council continues to advocate for fair funding for the Island from the government.
"By maximising spend from minimal funding, keeping charges down, investing in capital schemes, balancing the budget responsibly, using reserves wisely, and re-structuring where possible, we are working hard to minimise any adverse impacts on our residents.
"This draft budget is about balancing our financial responsibilities with the needs of our community, and I believe it strikes that balance effectively."
A Council spokesperson added:
"Looking ahead, the council acknowledges the need for ongoing savings and has forecast a savings requirement of £2.5 million for 2026/27 and £2 million per annum for the subsequent years, to ensure long-term financial sustainability."
The budget will be considered by the council's Cabinet on Thursday, 13 February, and by Full Council on Wednesday, 26 February. The draft proposals can be read in full on the council's website.
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