Budget 2024/5

This consultation is now closed.

The Council is legally obliged to balance its budget and we are now setting it for 2024/25.

Increasing demand for essential public services and inflationary pressures caused by the cost-of-living crisis, continue to cause significant financial problems, compounding the funding challenges of the Covid-19 pandemic and the preceding years of austerity.

Most of the Council Tax we collect from residents is used for services that are provided by Kent County Council, Kent Police and Crime Commissioner and Kent Fire and Rescue Service plus some is used by the parish and town councils.

Only 9p in the pound of the money collected is used to fund the services provided by Tunbridge Wells Borough Council.

Here is a breakdown of each pound (£) collected and where it goes:

We are currently budgeting a deficit of £489,000 for 2024/25, which will rise to £6.7 million by 2029/30 if left unmanaged. There is also uncertainty around the level of Government grant funding for Local Authorities following the Autumn budget statement, which will not be confirmed until late December.

We need to determine how the council can increase income and/or reduce costs to ensure the Council remains financially stable and can balance its budget without the use of reserves for the first time since the pandemic.

We would like to hear the views of residents, businesses and local interest groups, to help our Councillors understand the spending priorities of the people of the borough.

Last year you asked us to make savings from the Amelia Scott and the Assembly Hall Theatre. We have worked hard to achieve this and in 2024/25 we have been able to increase income and reduce costs by a combined £150,000 across both venues whilst still providing these important facilities.

Further financial details are available on the Council’s transparency pages on the website.

Transparency on spend (tunbridgewells.gov.uk)

Annual Financial Report for 2022/23 (tunbridgewells.gov.uk)

We would be very grateful if you would complete our online budget consultation survey before Friday 5 January 2024.

If you have any suggestions for improvements to the survey for next years budget please leave them here.

We will store your data in line with Tunbridge Wells Borough Council's data protection policy.