A regular hike in tax, a new library, a theatre upgrade and converting allotments into burial space are some of the things that you can expect in this year’s Reading council budget.
Reading Borough Council receives funding from a range of income streams, including from yearly funding settlements from the government and revenue from paid-for services such as parking in council car parks.
But primarily, it is funded through council tax, which is set to go up by 4.99 per cent this year.
Of that, 2.99 per cent will be spent on council services such as bin collections and street cleaning, plus two per cent which will be ringfenced to pay for adult social care.
Council tax is also used to fund Thames Valley Police and the Royal Berkshire Fire and Rescue Service.
The council has a series of capital budget projects which can be funded using money it is allowed to borrow.
The biggest of these is a total of £17 million spent on upgrading the Hexagon Theatre.
Once delivered, the upgrade will create space for a 200-seat auditorium, rehearsal areas and disabled access after revised plans were approved in January.
Budget papers state the council is also investing £7 million into relocating the Central Library into the civic offices in Bridge Street, a project that is currently taking place.
Additionally, £5 million is being spent on the council’s bus service improvement plan, which involves establishing new bus lanes.
Bus lane projects awaiting conclusion in this programme include the revisions to The Oracle roundabout and a new lane in London Road heading west between its junctions with Sidmouth Street and London Street.
The budget for 2025/26 fits into a medium-term financial strategy, which runs until 2028. A treasury management strategy for 2025/26 states the council will borrow £121.076 million, as well as revenue from its investments.
Councillors have also agreed to a £3.13 million to convert the Henley Road allotments into burial space.
Funding for that project will come from both the council’s Medium-Term Financial Strategy and its Capital Strategy.
The council’s budget for 2025/26 is due to be discussed at a full council on Tuesday, February 25.
Before that, the budget was discussed in private by the council’s policy committee last week.
As well as the major projects listed above, the council has multi-million pound spends on its core duties, which include looking after adults and children through social care and tackling homelessness.
Darren Carter, the council’s director of finance, said: “It [the budget] proposes an increase of just over £5 million for adult social care services, an increase of almost £900,000 for homelessness budgets, and an increase of just over £5.5 million for Brighter Futures.”
Brighter Futures for Children is the council-owned company that delivers children’s services.
