• Business
  • Business News
  • Video
  • Contact
Aycliffe Today
Aycliffe Today
  • Business
  • Business News
  • Video
  • Contact
  • Follow
    • Facebook
    • Twitter
    • Youtube
Home
Business

COUNCIL’S £182M SAVINGS ‘ON TARGET’

October 6th, 2012 Martin Walker Business, News 0 comments 0

Council members will hear next week how the region’s largest authority is continuing to manage unprecedented reductions in spending.

An update on Durham County Council’s Medium Term Financial Plan (version 3) outlines how, despite continued uncertainties regarding Government funding, the council’s plan remains on target to deliver the third year of required savings.

However, the document also highlights specific issues which are likely to affect budgets, including the Government’s proposed changes through the new Business Rate Retention scheme, which are currently out for consultation.

Should the published plans progress the council would lose out financially under the new system and as such Cabinet members will be told that more detailed planning is required to identify how an estimated £46m can be saved over the coming years (2014-15, 2015-16, 2016-17).

Council leader Cllr Simon Henig said: “There are a number of uncertainties which make it impossible to pin point with absolute precision what exactly we will have to spend and this picture is likely to remain until we receive our financial settlement from Government in December.

“As such all we can do is continue with the financial planning which has served us well so far.

“To date we have hit very tough savings targets for 2011-12 and 2012-13. Short of further unprecedented announcements, 2013-14 also looks set to deliver the budget cuts required.

“A number of key changes in financial systems nationally however, mean we must plan for further reductions in the future.

“We will, as previously promised, continue to seek the views of residents and partners through a two phased consultation process, starting later this month and culminating in the New Year.”

In July the council predicted a revised savings target 2011–17 of £180m. Analysis of the forecast changes in schemes, including Business Rate Retention, mean that the overall figure required is forecasted to increase to £182m.

 

Share it!

Facebook Twitter Google+ LinkedIn Pinterest
Next article ‘WE NEEDED SLICE OF LUCK’ – STEELE
Previous article COXHOE WOMAN CONVICTED OF AYCLIFFE FRAUD

Related News

Business

NC Group: Building the future workforce of Aycliffe’s engineering sector

Aycliffe Business Park is home to hundreds of thriving manufacturing and engineering businesses – but with...
Business

How Senstronics culture has nurtured life-changing career for Jack

From delivering pizzas in Stockton to managing a high-tech maintenance team, Jack Rickaby’s journey is...
Business

Strategic expansion for family firm as industrial suppliers set up shop in Aycliffe

A fasteners and industrial supplies business with a proud family history is investing in the future by...

LATEST VIDEO

This week on A.T

Sep 23rd 1:40 PM
Community

Fun and Food scheme benefits thousands of children in County Durham

Sep 22nd 4:18 PM
Business

NC Group: Building the future workforce of Aycliffe’s engineering sector

Sep 18th 4:49 PM
Sport

Newton Aycliffe Juniors round-up

Sep 18th 9:44 AM
Business

How Senstronics culture has nurtured life-changing career for Jack

Sep 17th 12:47 PM
Community

Helping to create thriving communities across County Durham

Sep 17th 10:30 AM
Business

Strategic expansion for family firm as industrial suppliers set up shop in Aycliffe

Sep 16th 9:01 PM
Sport

Aycliffe prepare for FA Trophy trip

Sep 16th 3:09 PM
News

Chaos reigns as Durham County Council announces new cabinet after just 100 days

Sep 16th 10:47 AM
Sport

Aycliffe Cricket round-up

Sep 15th 4:27 PM
Community

Newton Aycliffe school children celebrating new facilities

Recommend
Follow @AycliffeToday
  • Business
  • Business News
  • Video
  • Contact
  • Back to top
© Aycliffe Today 2019. All rights reserved.
Developed by Thrive

Get our latest news direct to your inbox every Friday - subscribe to our free e-newsletter today.

Subscribe Now