Caerphilly County Borough Council is looking at using reserves to tackle a significant £47 million budget gap over the next three years
Caerphilly: The council has just shared its draft budget plans for 2025/26. They’re trying to figure out how to deal with a hefty £47 million shortfall over the next three years.
On January 19, the council’s cabinet will look over the draft budget report. After that, they’ll open it up for public feedback, which is pretty cool.
Councillor Sean Morgan, the council leader, mentioned they’re actively searching for ways to save money and fill this big gap in their budget. He really wants the community to chime in and help shape future decisions.
One idea on the table is to use £4.3 million from the council’s reserves just for 2025/26. Luckily, Caerphilly has some decent reserves, although most of it is set aside for specific projects.
There’s a little bit of cash that could be used in emergencies, which is good to know. They’ve also pinpointed other savings, totaling £21.4 million, to help balance the budget for the upcoming year.
Councillor Eluned Stenner, who handles finance, said that using reserves and temporary savings is just a short-term fix. It’ll give them some breathing room to rethink their services and tackle the financial challenges ahead.
Additionally, the draft report suggests a 7.9% hike in council tax for 2025/26. This would bump the Band D precept from £1,446.37 to £1,560.63, which means an extra £114.26 a year or about £2.20 a week.
Stenner reassured residents that they’re doing everything they can to protect essential services that support the community around the clock.
