Cheltenham approves budget to boost local economy and tackle climate change

The budget focuses on sustainable and inclusive economic growth for our town.

Cllr Pete Jeffries, cabinet member for finance and assets, said: “I’m pleased that the council has agreed this budget which means Cheltenham is well placed despite the challenges of COVID-19. The recovery from the pandemic is certainly not over and continues to be a key focus point for the council.

“These proposals will ensure that we continue to invest in local services, tackle climate change, support economic growth in our town particularly with the continued impact of the pandemic, and support residents - whilst continuing our commitment to becoming the Cyber Capital of the UK, which is critical to ensuring job growth and economic prosperity for the people and communities of Cheltenham.”

Key proposals include:

• Climate action - continued commitment to becoming a net zero carbon council and borough by 2030, providing dedicated revenue and capital resources to support our climate pathway and deliver infrastructure projects which support the council’s response to the climate emergency declaration in 2019, including a £75,000 investment to support infrastructure for off-street EV charging points.
• A re-alignment of our budgets to reduce our reliance on income from vehicles, reduce our energy usage and allocate resources to meet the increased demand as residents recycle more of their waste.
• The Golden Valley Development - continued financial commitment to the Golden Valley development to realise the council’s flagship ambition to make Cheltenham the Cyber Capital of the UK. This includes the creation of a national centre of excellence for the cyber sector and wider tech industries that will be an engine-room for long-term inclusive growth for Cheltenham.
• Continued commitment to fund additional resources and economic recovery investment in the town that promotes inclusive growth and creates a place where everyone can thrive and that benefits both our communities and the environment, including a commitment to improve the high street around Clarence Fountain.
• £50k allocation for a Platinum Jubilee Community Fund to provide lasting community-led and climate focused initiatives across the town to celebrate The Queen’s historic reign. Further information to be announced later on in the year.
• Council tax – increase of 2.28% for the Cheltenham Borough Council element of council tax in 2022/23; for a Band D property this would be £5.

At this meeting, council also agreed the overall level of council tax, taking into account the requirements of Gloucestershire County Council and Gloucestershire Police and Crime Commissioner. For a Band D property the annual county council increase is £42.14 or 2.99% while the police element is £10 or 3.70%.

Further information can be found at www.cheltenham.gov.uk/budget.

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