Dacorum Budget
The new Lib Dem administration at Dacorum Borough Council achieved another resounding success at Full Council on 28th February when their proposed budget for 2024/25 received cross-party support with a 47-0 vote count; mirroring the success of the draft Local Plan going to Reg 18 in October 2023.
Despite the confirmation that Dacorum’s 2024/25 core funding from central government will only increase, year-on-year, by 5.1%, well below the inflationary rises in costs seen by the Council to deliver its services to residents, the Administration has delivered a balanced budget which will see Dacorum remain stable and viable.
To make up the shortfall from central government, the approved budget includes a 2.99% increase in Council Tax – the equivalent of £6.66 on the charge for a Band D property – a far lower increase than the 4.99% increase by Herts County Council. Whilst ‘Fees and Charges’ have increased in-line with inflation, concerns raised by residents were heard and concessions were made on the car parking charges to protect local businesses and the night time economy by maintaining an element of free parking in all towns and villages. But it’s not all about increasing income. The Lib Dem administration has brought a new vision to Dacorum with the “Climate Generation” – an acknowledgment that the current generation is the one with the most influence and power to protect our world – with a focus on energy saving and renewable power generation, which has already programmed in savings projected to £314,000 by 2026/27, and with further investment will aim to multiply those savings and generate income. These Climate Generated savings will improve the Council’s options for running the Borough better.
Cllr Michela Capozzi, Portfolio Holder for Corporate & Commercial said:
“These are financially challenging times for all local authorities. With central government funding not matching the funding needed to deliver services to our residents, the expectation is that we will generate our own income to make up the shortfall. Hard decisions had to be made to ensure we have a balanced budget that will keep Dacorum financially stable. We are a listening administration and engaging and consulting with our residents on things that matter to them is important to us. I’m delighted we now have a specific reserve for our newly-created Climate Change portfolio which will kick-start a programme of initiatives that will not only see significant savings in energy costs but will also create a cleaner and greener Dacorum.”