By Isle of Wight Observer
The Isle of Wight Council has unveiled its draft budget for 2025/26, aiming to address rising costs.
Facing a £15.8 million increase in spending for children’s services and adult social care simply to stand still, the council is proposing a 5 per cent council tax hike, with two per cent allocated specifically to adult social care.
Council leader Phil Jordan emphasised the difficulty of balancing public service needs with financial responsibility. He said: “Despite the challenging financial climate, our commitment to protecting and improving our community remains steadfast. We are dedicated to ensuring our community continues to thrive, even in the face of economic pressures.” He added that the council is continuing to press the government for increased funding.
To help manage its financial pressures, the council plans to use reserves strategically while focusing on efficiency improvements and generating income, aiming to achieve £1.5 million in savings without cutting services.
The budget highlights several initiatives, including investments in coastal protection projects to combat erosion and flooding, highway drainage schemes and repairs to storm-damaged footpaths. Parking charges and crossing fees on the floating bridge will remain frozen to ease financial pressures for residents and Island businesses.
Other proposals include enhancing Beaulieu House, Newport’s facility which cares for children with disabilities and launching housing schemes for care leavers. Plans also outline a £13 million capital programme to improve school maintenance, adapt homes for disabled residents, and upgrade the Gouldings care home in Freshwater and the Parklands Dementia Hub in Cowes.
The council is forecasting a £2.5 million savings target for 2026/27 and £2 million per annum in subsequent years to ensure financial stability in coming years. The draft budget, available on the council’s website, will be reviewed by the Cabinet on February 13 and by Full Council on February 26.
