READING Borough Council has announced major investments and protections in its latest budget update, including leisure facilities, housing, and transport.
The council has laid out its finances for the next year in a budget update, though it is still yet to confirm the final budget expected in February.
Ahead of the Local Government Finance Settlement due later this month, the council says it is “well-placed” following “sound financial planning.”
Despite this, it also acknowledges that there are financial pressures on councils as a result of rising inflation, reduced council income, and ongoing demands for social care.
As such, it says that while savings must be made to balance its budget, it intends to deliver on its infrastructure projects.
One of these is the continuation of the road and pavement repair programs, which it says is one of the biggest ever.
It also includes a number of programs currently working to improve travel and leisure facilities, with Green Park Station’s development and Reading West Station’s improvement works among them.
Jason Brock, Council leader, said: “This is a provisional budget update which continues to deliver tangible improvements for Reading residents in the face of enormous challenges for local councils.
“It is also the result of many years of hard work to stabilise the Council’s finances, ensuring that we are now well-positioned to weather the combined storm of inflationary pressures, reduced income due to the pandemic, and increased demands for the essential social care services we provide.
“You do not need to look too far afield to witness neighbouring councils having to consider unpalatable cuts in the face of these pressures, whilst others have declared themselves bankrupt.”
Following a decade of austerity, and rather than providing councils with a realistic and sustainable funding solution, the Government has instead told them to raise Council Tax.
He argues that this is placing the burden for protecting essential public services “directly on those people struggling with their own household budgets.”
A provisional capital programme of council investment is reported to amount to £169 million, focusing on core services, as well as a further £137.9 million ear-marked for housing, totalling £306.9 million over the next three years.
Cllr Brock said of this investment package: “In spite of increased costs associated with soaring inflation, in Reading we will keep our promise to deliver modern new facilities for residents.
“We are extending our biggest ever programme of road and pavement repairs. A modern new pool at Palmer Park is now weeks away from opening and will be followed next year by Reading’s brand new flagship pool and leisure centre at Rivermead.
“Our brand new station at Green Park, a welcome addition to matchday travel for Royals fans, opens to the public next year following Network Rail’s commissioning process, and we will have completed the station transformation at Reading West together with rail industry partners.”
He explained that as the council continues to strive to hit its 2030 net zero carbon target, it is: “providing realistic alternatives to the private car by building major new segregated cycle lanes,
“And in the new year we will announce details of a major package of investment in our award-winning bus services.
“This sits alongside a raft of investments in low carbon initiatives, including the continued electrification of the Council’s vehicle fleet, low-energy, low-cost new streetlights and air quality schemes.”
He says it is also investing in more than 360 new affordable Council homes: “including for key workers like social workers, nurses, teachers and police, as well as for older and vulnerable residents on Battle Street and Hexham Road.
“Existing Council tenants will benefit from a major retrofitting of homes to make them more energy efficient and cheaper to heat. For younger residents, our major programme of playground equipment replacement continues across Reading.
“And as the cost of living crisis bites into household budgets, I’m proud that we will maintain our financial support for Reading’s incredible voluntary sector, whose role in helping us to reach and support those living on low incomes, as well as tackling widening inequality, becomes more essential in the difficult time ahead.”
