9p-a-week tax increase plan

PLANS to increase the average council tax rate by 9p a week will be considered by Charnwood Borough Council’s cabinet tomorrow (Thursday).

The authority’s budget contains a proposal to increase the Charnwood element of council tax by 9p a week for the average Band D property in the borough.

The proposal would see the annual charge for the Charnwood element of an average Band D property rise by £4.78 (3.52 per cent) from April 1.

It is also being proposed to increase the Loughborough special rate, paid by residents of the town, by £1.58 (1.99 per cent).

The proposed increase to the Charnwood element of council tax means the annual charge for an average Band D property will rise to £140.47, while the Loughborough special rate will increase to £81.11.

The cabinet will consider the plans and if they are supported, the recommendation will go before full council on Monday, February 27.

The Council’s draft budget for 2023/24 looks to spend about £20 million on services for the borough. This includes generating extra income through fees and charges and using about £1.3 million of reserves. The council is also continuing to invest in the borough, including:

■ A planned £2 million regeneration scheme for the centre of Shepshed, with some joint funding being provided from other sources;

Yet again, for this budget we are squeezing the value out of every pound. Charnwood borough councillor Tom Barkley

■ Investment in parks, including £200,000 earmarked for Queen’s Park, Loughborough, and about £50,000 for the creation of a community garden in Syston;

■ £65,000 for additional EV charging points in the Bee Hive car park, in Loughborough.

Councillor Tom Barkley, lead member for finance, said: “As part of the 2023/24 budget, we are proposing to increase the amount of council tax which Charnwood receives by about 9p a week.

“Often people assume that Charnwood receives the full amount they pay because we send out the bills. However, this isn’t the case.

“Charnwood only receives around seven per cent of the total people pay.

“For this small amount, we provide a wide range of services including recycling and refuse collections, managing 600 acres of open spaces and operating three leisure centres and Loughborough Town Hall.

“We are very aware of residents’ concerns about the rising cost of living. The proposed increase to our element of council tax is not made lightly but one we feel is necessary to help protect frontline services.

“Yet again, for this budget we are squeezing the value out of every pound.

“There is a gap between the funding we receive and the cost of running services but thanks to careful financial management in the past, we are able to make up this difference with reserves.”