Decision details

Cabinet will be asked to consider an update on the MTFS following the Autumn Budget Statement and to consider a capital programme update.

In addition, approval will be requested for the London Borough of Havering to join the London Business Rate Pilot.

Cabinet:

1.               Noted the updated national financial context for local government, in year financial performance and the projected budget gap over the period 2018/19 to 2022/23 as set out in section 1 of the report and the period 6 forecast position set out in section 2 of the report.

2.               Noted the assumptions which underpin the forecast and that further updates will be provided as further information becomes available in the build up to the budget setting in February 2018.

3.               Noted the update on the proposed London Business Rate Pool Pilot and that this will be presented to Cabinet for a decision in January 2018.

4.               Approved additional savings proposals of £1.390m of which £0.588m relate to 2018/19 for consultation where necessary as set out in section 6 and Appendix B of the report.

5.               Approved growth proposals of £1.080m, all of which relate to 2018/19 for consultation where necessary as set out in section 6 and Appendix B of the report.

6.               Approved the proposed 5 year Capital Programme for consultation and scrutiny as required as set out in section 8 of the report

7.               Noted the updated Treasury Management position arising from the proposed Capital programme and that an updated Treasury Management  Strategy will be presented in January (section 8 of the report)

8.               Approved the amendment to the Council Tax Discretionary Policy to include supporting care leavers set out in section 4 of the report.

9.               Noted the timetable and process for developing, reporting and considering the 2018/19 budget and MTFS as set out in section 7 of the report which will include consideration and approval of the Council Tax Support Scheme in January 2018.