COUNCILLORS are to hear how the North East’s largest authority is continuing to manage unprecedented reductions in spending.
An update on Durham County Council’s Medium Term Financial Plan outlines how, despite continued uncertainties regarding Government funding, the council’s plan remains on target to deliver the third year of required savings.
However, the document, which will be presented to councillors next week, will also highlight specific issues which are likely to affect budgets, including the Government’s proposed changes through the new Business Rate Retention scheme, which are out for consultation.
Should the published plans progress, the council would lose out financially under the new system and as such cabinet members will be told that more detailed planning is required to identify how an estimated £46million can be saved during the coming years.
Council leader Simon Henig said: “There are a number of uncertainties which make it impossible to pinpoint with absolute precision what exactly we will have to spend and this picture is likely to remain until we receive our financial settlement from Government in December.”