Cheltenham’s budget approved to support plans for green growth of the town and its communities

The council’s budget proposals for 2023/24 have been approved at full council this week (20 February 2023), despite the unprecedented financial challenges of the cost of living crisis.

The budget reinforces the council’s commitment to shaping and improving public services and enabling strong economic growth and development for the town, whilst ensuring resources are available to continue to support its businesses and communities.

Cllr Peter Jeffries, cabinet member for finance, assets and regeneration, said: “We are pleased to have set a strong and realistic budget, especially as we’re facing one of the most economically unstable and difficult times we have seen in living memory, and that is thanks to the hard work of everyone involved in this process.

“We were one of the first councils to publish a recovery strategy during the COVID-19 pandemic which focused on revitalising and reshaping the economy and ensuring that future growth benefits all of our communities. This budget is a re-commitment to those goals and that vision, even during the current economic challenges the economy places on us.’’

The proposals include:

• Continued commitment to becoming a net zero carbon council and borough by 2030, providing capital finance to deliver infrastructure projects which support the council’s response to the climate emergency declaration in 2019.
• Commitment to supporting the town centre economy following the recent announcement of the £5.8m investment package for the High Street and the Minister Exchange  
• Continued financial commitment to the Golden Valley Development to realise the council’s flagship ambition to make Cheltenham the Cyber Capital of the UK. This includes the creation of a national centre of excellence for the cyber sector and wider tech industries that will be an engine-room for long-term inclusive growth for Cheltenham.
• Continued commitment to Cheltenham’s No Child Left Behind project following the recent £60k financial boost provided by the council to the town’s food network
• Continued partnership working with Cheltenham Borough Homes and other developers to deliver more affordable homes in the town.

Residents, businesses and all partners can view the full council report and find details of the budget consultation.

At the meeting on Monday 20 February, council also agreed the level of council tax, taking into account the requirements of Gloucestershire County Council and the Gloucestershire Police and Crime Commissioner.

For a Band D property the annual county council increase is £72.42 or 4.99%; the police element is £15.00 or 5.36%, and the borough council increase is £6.70 or 2.99%.

Further information can be found at www.cheltenham.gov.uk/budget.