The Director of Regeneration and Place presented the report of the Director of Finance. The report gave an update on the budgets within the remit of the Committee in respect of forthcoming pressures and proposed savings that were being considered within the Medium Term Financial Plan. The report noted that the Council had a legal responsibility to set a balanced budget, which sets out how financial resources are to be allocated and utilised. The report highlighted the external challenges impacting the 2024/25 budget setting process and proposed options to address the challenges faced.

Members queried the figures on the budget pressures relating to the Birkenhead Commercial District and whether tenants had been secured for the new office buildings. The Director of Regeneration and Place explained that the budget pressure figure of £2 million was not for void periods and was being utilised for a range of issues relating the completion of the buildings. He noted that marketing had begun for the office buildings and was going well, he stated that a report updating Members would be brought to committee in due course.

Resolved – That

1.  The indicative pressures and proposed savings detailed in Appendix 1 be noted; and

2.  The Budget Workshop feedback and outcomes, as detailed in Appendix 3 be agreed.