A 2.99% tax hike has come closer for residents of the island, as the ruling administration’s budget is recommended.
Isle of Wight Council’s proposed finances for the coming year were agreed to be recommended to the full council last night (Thursday) by cabinet and would see the authority ‘turn around’ instead than simply “managing the decline”.
The Alliance administration’s first budget was presented in cabinet papers last week and would see a number of revenue-generating, cut-back and savings schemes, but with a proposal to increase the residence tax of 2.99%.
Speaking to the cabinet, the council’s head of strategic finance, Cllr Chris Jarman, said the budget focuses on delivering the administration’s goals, but focuses on three key areas – securing first-line services online social care for adults, services for children and the provision of ‘affordable housing for islanders.
The proposed budget for 2022/23 includes a £400m spending plan, including £25m earmarked for affordable housing, £2.5m for the establishment of a council-owned housing corporation and £2.3 million for transport initiatives. including safety and speed reduction.
As part of a financial plan, the council is to deliver £3million in savings, offering revenue-generating schemes like an optional live funeral cost and increased fees for one of its services of care.
Alternative budgets for opposition groups could be proposed at the plenary council on February 23, when the final figures and the tax hike will be decided.