ipswich.gov.uk

How to best deliver corporate priorities, whilst dealing with inflation rising much faster than predicted, will be considered by the Council’s Executive on 12 July when it makes its recommendations for a revised Medium Term Financial Plan (MTFP) 2022-23.

Inflation forecasts have doubled since February 2022 when the Council decided on its latest MTFP and the Office for National Statistics now predicts there will be 9.1% inflation. The MTFP lasts four years and there is now a predicted extra £6.4m cost from this rising inflation and which, when added to the gap expected in February, leaves a total budget gap of £23m over this period. A minimum £2m saving is needed in 2022/23 to maintain the minimum working balance and enable the 2023/24 balanced Budget to be set.

The Executive will consider recommending to Council:

• A review of the capital programme reducing associated financing/revenue costs by £0.5m in 2023/24 and £1.25m over the 4-year period
• Consideration of new savings proposals that total at least £2.3m over the 4-year term
• A systematic review of income
• Consolidation of savings projects into a corporate Big Ticket savings programme

What will this mean?

• The return of the management of Northgate Sports Centre to Suffolk County Council
• Move Face to Face provision from the Customer Services Centre in the Town Hall and let out the space commercially
• Reducing office accommodation costs
• Sell land / develop sites to reduce interest on borrowing
• Return maintenance of highways verges and related highways weed treatments to Suffolk County Council
• Remove the “unallocated growth budget” which has enabled us to consider offering new or enhanced services in previous years
• Cease production of the Council newspaper, the Angle
• Simplify community grants
• Increase Council Tax levels on long term empty properties when allowed

Ipswich Borough Council will decide all savings in line with its updated corporate priorities:

• A thriving town centre
• Quality and affordable homes for Ipswich people
• A ‘carbon neutral’ Council
• Good quality front-line Borough Council services
• Help with the Cost of Living Crisis
• A financially sustainable Council 

Cllr David Ellesmere, Leader of Ipswich Borough Council, says:

“Soaring prices aren’t just affecting households. They are hitting the council hard too. Our whole approach is intended to respond to inflation in a manner that ensures the Council remains financially sustainable in the medium term.

“None of the areas where savings are proposed have a direct impact on household finances of Ipswich residents. Free of charge brown bins and the free young person’s Summer iCard will remain. The proposal to move community cash grants to three year awards will make it easier for the organisations who benefit to plan their budgets.”