A balanced budget

The Council has approved its budget for 2025/26.

It is a legal requirement for a council to set an annual budget and for that budget to be ‘balanced’ or fully funded. Once again TWBC has achieved this without the need to use reserves at a time when there is little growth in the national economy.

Councillor Christopher Hall Cabinet Member for Finance and Property said ‘We've set a balanced budget for the next financial year, without any external debts despite some significant investment in the form of the acquisition of Royal Victoria Place recently.

‘The budget we agreed on 26 February will continue to support the development of the shopping centre and we have been able to freeze car parking charges for another year to support retailers. It's a budget that supports the creation of new youth hubs which are starting to get off the ground,  as well as investment in climate initiatives such as solar panels and heat pumps in buildings we own as we work through a climate action plan to decarbonise our estate.

‘Of the residents who responded to our budget survey 59% said they felt that the Council offered good value for money. I am very conscious that this is your money that we are looking after and I hope we can improve this further next year as we aim to deliver more for you with our new strategic plan.’

The survey undertaken as part of the budget setting process had responses from 1,725, our very grateful thanks if you were one of these people.

The budget allows for an increase in Council Tax for 2025/26 of just under 3%.

Together with increases in payments to other bodies the increase in Council Tax for a Band D property in the borough is just under 5% (4.99)

The range of services the Council provides across the borough are estimated to cost £69.4 million a year.

You can find out more about Council services and your Council Tax on our Your Council Tax page.