We have to identify almost £10 million in savings (cuts) to balance our budget for 2024-25.
All Councils are facing a set of unprecedented financial challenges to balance their budgets for 2024-25 and the next few years. It is estimated that there will be a £395 million shortfall in funding for Welsh local authorities in the next 2 years alone.
The upcoming budget setting process for 2024-25 alone will be a really challenging time for all local authorities in Wales including Blaenau Gwent. We have to find almost £10 million in savings (cuts) to balance next year’s budget (£35 million in total over the next 5 years).
High inflation and energy prices have and continue to increase the cost of delivering services and the cost-of-living crisis is increasing demand which means the Council is being asked for higher levels of support at the same time.
Without an increase in funding from Central Government it means that some difficult decisions will have to be made for next year’s budget. We are going to have to look very closely at everything we do to see if it’s sustainable to continue doing it as rising costs hit our budgets hard. We will need to review the level and frequency of some services and look at whether there is a need to increase or implement charges.
Your views count.
Every year as part of the budget setting process we consult with the public to seek their views on what are considered priority areas.
There are no confirmed proposals at this stage and we will be seeking your views in the next couple of weeks as we consider our plans to set a budget for the delivery of Council services in 2024-25 and beyond.
We need to work together and if you have any views on how we can save money, then please let us know.