“As we move to becoming self-financing, it will become more crucial than ever that we continue to grow our economy. We do have a good story to tell, in that our economic programme has already brought in almost £400 million of investment, with every pound from the county council being matched by £15 from the private sector or Government, and once complete it will see the creation of over 13,000 jobs.
However, we need to balance this against the increasing costs of funding the support of a growing ageing population and numbers of children in our care – which will see us spend a record £310 million on next year alone.
As a local authority we can’t spend more than we have coming in and will need to look at the detail of the draft Local Government Financial Settlement before agreeing final proposals.”
Philip Atkins, Leader of the County Council
“Staffordshire has benefited from one of the lowest county council taxes for a number of years and still does, but the financial challenges which lie ahead are still significant and that’s why we all now have to pay a little more and do a little more to be able to continue to support those who need our help the most.”
Mike Sutherland, Cabinet Member for Finance
Reasons for the Decision – To provide Cabinet with an update on the evolving work in preparing the Council’s Strategic Plan and Medium Term Financial Strategy (MTFS).
Decision – (a) That the progress made in developing the Strategic Plan for 2018/22 be noted.
(b) That the challenging financial outlook facing the County Council be noted.
(c) That the significant work that has been done to develop cost reduction options be noted.
(d) That work continues to identify additional proposals needed to address the funding gap in 2018/19 and future years.
(e) That the Corporate Review Committee be requested to scrutinise the proposed pressures and cost reductions against the principles of a good and balanced budget.