The Isle of Wight council have confirmed that they have still not received any official word from Government about the supposed £3m additional funds that the Isle of Wight MP, Bob Seely, claimed last week they would be receiving.
Due to the delay in receiving news from the Government, the council say the agenda item to discuss the upcoming budget setting, due to be discussed at next week’s cabinet meeting, has been removed and a separate meeting will be held the following week to discuss the item. This is ahead of the Full Council meeting on 28th February to set the budget for 2024/25.
Jordan: Fundamental variables and uncertainties impacting the council’s budget
Councillor Phil Jordan, leader of the Isle of Wight council, 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.”
Jordan: No idea as to potential conditions attached to any extra money
The council leader went on to say,
“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.”
Jordan: A properly formed council budget will emerge
Councillor Jordan finished by adding,
“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.”
