Budget and Council Tax 2021/22

Statement from the Deputy Chief Executive, Corporate Director, Corporate and Support Services.

During the financial year 2021/22 the Council plans to spend £679m on the provision of a wide range of services to Stockport residents. This includes £217m for schools which will be met by dedicated government grants, and £55m on the provision of council housing which is met primarily from rent income. After taking account of income from fees and charges and a number of specific grants the 2021/22 net revenue budget for council services has been set at £272.8m.

What is the Cost of Providing Services?

What is the Cost of Providing Services?

In order to fund these services, Council Tax will increase by 3.5% in 2021/22. Of this, 1.5% relates to the increase to the ‘Adult Social Care Precept’ allowed for by Government to provide the Council with funding to meet the increasing cost of providing adult social care services to vulnerable residents across the Borough.

Council Tax receipts will total £167.9m (including the Adult Social Care Precept). For a ‘Band D equivalent’ property in Stockport this equates to a Council Tax charge of £1,749.90 in 2021/22.

The Council is also required to collect a Mayoral Police and Crime Commissioner Precept and the Mayoral General Precept (including Fire Services) on behalf of the Mayor and Greater Manchester Combined Authority. This results in an overall Council Tax charge for a ‘Band D equivalent’ property in Stockport of £2,059.15 in 2021/22.

In 2021/22 the Council will continue to be part of the Greater Manchester 100% Business Rates Retention Pilot. The Council will retain 99% of the Business Rates income collected (1% will be paid to the Greater Manchester Combined Authority for Fire Services). As a result, almost £73m of the net expenditure will be met from within the Business Rates funding regime.

As part of the Council’s response and recovery from the Covid-19 pandemic, the 2021/22 Budget includes a number of positive investments of over £6.6m aligned to protecting and recovering the Stockport economy, supporting residents, maintaining and developing the sense of community and providing further financial investment for the Council’s Climate Action Strategy. These investments include:

• Parks and Green Space investment - to improve outdoor play and sports facilities;
• Wider Economic Investment - to support businesses to open and recover as Covid-19 restrictions are lifted;
• Community Support Supporting Recovery Investment - by providing further funding of the Stockport Local Fund to support community based projects aligned to the Council’s Build Back Better recovery process;
• Digital Inclusion and Financial Inclusion Services to support residents;
• Cultural Services to support our residents;
• Further rollout of Open Plus technology to enable communities to access libraries during unstaffed hours;
• Health and Wellbeing to provide early intervention support and develop a more proactive and targeted approach;
• Targeted youth support to support existing services and provide a more cohesive approach in reducing youth disorder;
• Tackling Climate Change through the planting of thousands of trees, the installation of EV charging points, using our green spaces to provide grass and flower meadows and the planting of orchards across the Borough; and
• Investment in the Hopes Carr Memorial Park to provide essential maintenance and improvement to this respected and fitting memorial in Stockport.

How is the Council Funded?

How is the Council Funded?

2021/22 Capital Programme

The Council has ambitious capital investment plans for the Borough to help regenerate the local economy, create jobs and develop strong communities. The Council’s 2021/22 three year Capital Programme is £262.806m in total and includes capital schemes to deliver capital plans as follows:

• Highways and Infrastructure – this includes capital schemes for the A6 to Manchester Airport Relief Road, Highways Investment Programme, Town Centre Access Plan and the Mayoral Walking and Cycling Challenge Fund;
• Housing – this includes capital schemes to support the programme of housing general capital works and the Affordable Housing Programme; and
• Regeneration – this includes capital schemes to support the regeneration of the Town Centre and District Centres including major schemes to support the regeneration of Stockport Exchange, Merseyway redevelopment work, the Markets and Underbanks regeneration scheme and the Greater Manchester Local Full Fibre Network Programme.

The Capital Programme is funded by capital grants and contributions from Government and other third parties, revenue contributions to capital spend and borrowing.

Further details of the Council’s budget, including details of the Council Tax and Precepts, are available on the Council’s website.

Michael Cullen
Deputy Chief Executive, Corporate Director, Corporate and Support Services