Cabinet:

·       Noted the updated national financial context for local government, in year financial performance and the projected budget gap over the period 2019/20 to 2022/23 as set out in sections 1 and 2 of the report and the period 6 (September 2018) and of year forecast position set out in section 3.

·       Noted the assumptions which underpin the forecast.

·       Approved savings proposals for 2019/20 of £8.702m as set out in section 4 and Appendices B (£0.770m), C (£3.156m) and D (£4.776m), having considered the consultation feedback set out in Appendices E and F.

·       Approved the launch of consultation on the measures included in the Improving Traffic Flows project as set out in Appendix D.

·       Approved thegrowth proposal for 2019/20 of £1 million to fund the revenue costs of the £10 million capital investment in the Highways Investment Programme for 2019/20, as set out in section 4, having considered the consultation feedback set out in Appendices E and F.

·       Approved the updated 5 year Capital Programme in Section 6 for recommendation onto full Council for agreement in January 2019.

·       Noted the timetable and process for developing, reporting and considering the 2019/20 budget and MTFS as set out in section 7.

Councillor Roger Ramsey, Cabinet Member for Finance & Property, introduced the report.

The report presented an overview of the national economic and financial environment within which all local authorities were currently developing their financial plans for the next 4 years. It set out the complex range of factors affecting local authority  ...  view the full minutes text for item 18