Labour-led Peterborough City Council passes balanced budget for Peterborough to protect local services and restore financial stability

Today at a meeting of Full Council, Labour’s budget proposals were passed with the support of all Labour councillors in addition to a number of Conservative councillors. 

The budget has been prepared over several months, with cross-party discussion and input. Other political parties had the opportunity to propose amendments and alternative proposals, but none chose to do so.

Peterborough City Council is in a difficult financial situation after 14 years of austerity under Conservative governments cut back on funding for councils, leaving local politicians to make difficult decisions about taxation and spending. The new Labour government has delivered a much fairer financial settlement for councils including Peterborough, but cannot reverse over a decade of damage in just one year. Despite this context, the budget is investing in Peterborough and making strides back to a sustainable financial footing. 

Key highlights from the budget include: 

• £110 million of capital investment, delivering long-term improvements to our city’s infrastructure and services. 

• Proposals to raise standards for private renters through a new licensing scheme for houses in multiple occupation, which will be paid for by landlords and provide some additional funds for the council to tackle homelessness. 

• Continued investment in our city’s lido, with improvements such as new food and drink offerings. 

• Commitments to increase opportunities to help young people move into paid employment. 

• A variety of changes to the way services are structured and managed by the Council to save taxpayers’ money while preserving service levels. 

• Proposals and funding to introduce some children’s homes for vulnerable children in Peterborough, improving outcomes for this group while keeping them close to their family. 

Dennis Jones, Labour Leader of Peterborough City Council, said:  

“This budget shows the difference a Labour council makes. We are protecting the services our council delivers to residents, and making the right decisions to put the council back onto a sustainable financial footing after many years of a Conservative administration asleep at the wheel – both locally and nationally. Thanks to additional funding from the Labour government, we have been able to avoid some of the most difficult decisions that could otherwise have been needed. 

This is a Labour-led budget, but we have had open dialogue across all political parties and worked together on the details. There have always been opportunities for other parties to put forward amendments, but none did – and the fact that Peterborough First, Lib Dems, Greens and some Conservatives decided not to vote for this budget tonight despite not having put forward any other ideas shows that only Labour has a genuine plan for our city.”