BUDGET DISCUSSION PUSHED BACK AS COUNCIL AWAITS CONFIRMATION OF ADDITIONAL £3MILLION

‘Uncertainties in funding’ have led to the Isle of Wight Council pushing back talks on the Budget. The matter was due to feature on next Thursday’s cabinet meeting agenda, but it has now been pushed back to the following week when an extraordinary meeting will be called. As exclusively reported by Island Echo last month, the Isle of Wight is set to receive an additional £3million in funding – on top of the £1million already announced – as part of a Government uplift. However, the Council is yet to get confirmation of this with full details on the funding to be revealed in early February. Councillor Phil Jordan, leader of the Isle of Wight Council, has said:

“Due to a number of fundamental variables and uncertainties in funding that are impacting the finalisation of the council’s budget, we have agreed to postpone the budget agenda item from next week’s Cabinet meeting. Our intention is to hold a single item, extraordinary Cabinet meeting the following week to consider the 2024/25 budget. “There have been suggestions that government will add a further £3 million of funding to the settlement figure in addition to a share of £500 million set aside nationally for social care service delivery funding. We have no details on the amount of that for the Island but our best estimate is around £1.5m. In terms of the potential added funding of £3m, again, we have no idea at this stage as to potential conditions attached to the extra money but assume they will come, if at all, with the final funding settlement announcement. “I am sure residents will understand the position we have been placed in and, as a result, have forced upon us extraordinary circumstances which we have to manage. I would like to assure our Island community that a properly formed council budget will emerge and be recommended to Full Council at the appropriate time.”

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