Local government finances are beyond repair. Every week, councils are announcing budget deficits that they have no chance of balancing. Major councils such as Birmingham are declaring Section 114’s meaning that they cannot meet their legal obligation of a balanced budget. This is not an issue for just one party. Labour, Conservative, Liberal Democrat or Independent, all councils are struggling. City councils or County and Borough councils, the issue of local government finance is affecting the whole country.
The Tory-driven cost of living crisis is still ravaging the UK. Inflation is still high, wages still low and the cost of necessities like food and energy keep rising. The single cost that is rising the most for the average person though, is rent and mortgages. In August 2023 rent prices increased 12%. If you exclude London where rent costs have totally spiralled out of control, the average renter spends 24% of their weekly income on rent alone. This is far more than homeowners spend on their mortgages. That does not mean that homeowners aren’t also having to pay more on their mortgages due to increasing inflation and high mortgage rates. In Nottingham more residents rent than own their own property, meaning that skyrocketing rents affect more people.
It has been announced that major work will begin in autumn 2023 on the transformation of part of the old Broad Marsh shopping centre site into a green heart for the city. Back in December 2021, Nottingham City Council under Nottingham Labour announced the ambitious and forward-thinking plans to transform a derelict area of the city, into a vibrant heart for the city. In our manifesto we pledged to deliver a high biodiversity ‘Green Heart’ at the centre of the Broadmarsh redevelopment, in line with the results of the consultation and Broadmarsh Vision.
Nottingham City Council’s executive board will next week consider a paper with proposals to set a balanced budget over the four years of the Medium Term Financial Plan.
Nottingham Labour is disappointed that Nottingham City Council has not been successful in three bids for funding from the Government’s Levelling Up Fund
Nottingham City Council is to launch a consultation on 20 December on savings proposals to balance the budget for 2023/24. If accepted at the council’s… Read More »Nottingham City Council budget savings consultation to launch on Tuesday 20 December
Today Nottingham City Council Leader, Cllr David Mellen responded to the Government’s long overdue “Levelling Up” White Paper, cautiously welcoming the next steps on devolution but highlighting that these words do little to reverse the damage that twelve years of unprecedented Conservative cuts has caused to Nottingham.