Council facing £31m budget shortfall next year

Swindon Borough Council must find £31m in savings in order to balance next year’s budget.

Council officers have already identified £12m in cuts, but still face a financial hole of about £19m.

Despite the projected shortfall, the council’s cabinet member for finance has defended earmarking £35m for a new entertainment venue.

Kevin Small told the BBC: “Swindon needs to regenerate and regeneration of Swindon will have its benefits."

The council could receive additional funds in the form of a larger than expected settlement from the government, which is expected to be announced on 16 December.

Chancellor Rachel Reeves announced more money for local government to help pay for social care, homelessness and families with special educational needs and disabilities in the autumn budget.

“I’m hopeful that we will see an improvement that might ease the gap a little,” Small said.

Despite the squeeze on its finances, the council is still committed to building a new “state of the art” performance venue.

The estimated cost of construction is just under £35m, although this may change by the time a planning application is submitted.

Small said the venue would be important for Swindon.

"We will then be able to regenerate the town centre which will have more residential properties which will increase our council tax base.

"But it is also about... making Swindon a better place to live."

Small blamed 14 years of austerity for the council’s financial situation, adding that in 2013 45% of its funding came from central government, whereas now it is just 4%.

The council's budget will recommend that council tax increases by 4.99%, the maximum allowed by the government, and the same increase levied for the last three years, according to the Local Democracy Reporting Service.

The council is also planning to overhaul some services, such as children’s services, in a bid to reduce costs.

"It’s part of a transformation programme which will be slow in its starting but will then pick up speed and we will see the benefits of that over the next two or three years," Small said.

The council is also considering whether to apply to the government for "Exceptional Financial Support", which would allow it to sell assets or borrow against them to fund day-to-day spending.

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