Reading is set to receive an additional £42.8m in funding for local services after the government confirmed a major increase in council budgets.
The funding, announced as part of the Local Government Funding Settlement, represents a 22% rise in Reading Borough Council’s spending power and will be spread over the next three years.
Labour MPs for the area — Olivia Bailey, Matt Rodda and Yuan Yang — welcomed the announcement, saying it would provide much-needed stability for essential local services.
The settlement marks the first multi-year funding deal for councils in more than a decade, giving local authorities greater certainty over future budgets rather than relying on annual allocations.
The MPs said local government funding had fallen significantly since 2010 under previous Conservative Party-led governments, placing pressure on services such as road maintenance, libraries and leisure facilities.
In a joint statement, the MPs highlighted recent improvements delivered by Reading’s Labour-run council, including road resurfacing across the borough, new leisure facilities and plans for a new central library.
They also said the government had moved away from a system that allowed some councils to build up large reserves, instead allocating funding based on local need and evidence of demand.
“This cash injection for Reading will make a real difference to our communities,” the MPs said, adding that it would build on work already underway by the council.
A government spokesperson said the new funding settlement was designed to ensure councils across England had the resources needed to deliver services residents rely on, while allowing for longer-term financial planning.
