Last updated 17 March 2020
Council Tax statement from Michael Cullen, Corporate Director, Corporate and Support Services, Stockport Council
During the financial year 2020/21 the council plans to spend £663m on the provision of a wide range of services to Stockport residents.
This includes £214m 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 2020/21 net revenue budget for council services has been set at £247.4m.
What is the cost of providing services?
In order to fund these services, Council Tax will increase by 2.99% in 2020/21. Of this, 2% 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 £162.7m (including the Adult Social Care Precept). For a ‘Band D equivalent’ property in Stockport this equates to a Council Tax charge of £1,690.73 in 2020/21.
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 £1,989.98 in 2020/21.
In 2020/21 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, just over £72m of the net expenditure will be met from within the Business Rates funding regime.
The council’s 2020/21 Budget includes one-off positive investments of over £9.5m aligned to the council’s ambition and priorities for its residents and the Borough including:
- Investment in the Adults and Children’s social care services to continue service transformation plans to achieve the desired outcomes for service users;
- Investment in the council’s sustainability agenda linked to the climate emergency call to action and the recent flooding events across the Borough;
- Investment in the council’s civic assets such as libraries, schools, parks and greenspaces;
- Investment in the council’s Local and Community Fund;
- Investment in the Town Centre and District Centres thorough a recyclable business loans fund and supporting the Council’s High Street Fund submission to create more community learning and cultural facilities and opportunities; and
- Investment in the Mayoral Development Corporation supporting the Council’s ambition to create the coolest, newest and greenest urban neighbourhood in Stockport West
How is the council funded?
2020/21 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 2020/21 three year Capital Programme is over £375m 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 at www.stockport.gov.uk/counciltax.
Michael Cullen, Corporate Director, Corporate and Support Services