By Isle of Wight Observer
Discussion about the Isle of Wight Council’s budget, due to take place next Thursday evening (February 8), has been postponed due to uncertainty about what funding the council is to receive.
Council leader, Phil Jordan, said: “Due to a number of fundamental variables and uncertainties in funding that are impacting the finalisation of the council’s budget, we have agreed to postpone the budget agenda item from next week’s cabinet meeting. Our intention is to hold a single item, extraordinary meeting the following week to consider the 2024/25 budget.
“There have been suggestions that government will add a further £3 of funding to the settlement figure in addition to a share of £500 million set aside nationally for social care service delivery funding. We have no details on the amount of that for the Island, but our best estimate is around £1 1/2 m. In terms of the potential added funding of £3m, again, we have no idea at this stage as to potential conditions attached to the extra money, but assume they will come, if at all, with the final funding settlement announcement.
“I am sure residents will understand the extraordinary circumstances which we have to manage. I would like to assure our Island community that a properly formed council budget will emerge and be recommended to full council at the appropriate time.”
