Agenda and decisions

The outgoing Young Mayor and Deputy gave a brief speech. The new Young Mayor and Deputy signed their acceptance of office.

The motion was MOVED by Councillor De Ryk and SECONDED by Councillor Rathbone.

Under the provisions of the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a recorded vote was conducted on this item with the following result:

For (46) Councillors Anwar, Atkinson, Barnham, Bell, Bernards, Best, Bourne, Burgess, Brown, Clarke, Cunningham, Curran, Dall, Davis, De Ryk, Eiles, Erheriene, Harding, Howard, Huynh, Ingleby, Jackson, Johnston-Franklin, Kestner, Lahai-Taylor, Lavery, Millbank, Moore, Muldoon, Parry, Jacq Paschoud, John Paschoud, Penfold, Royston, Rathbone, Schmidt, Aliya Sheikh, Sakina Sheikh, Shrivastava, Sorba, Stamirowski, Walsh, Warner, Webley-Brown, Walker and Wise. 

Against (0) Nil

Abstention (1) Tam

RESOLVED that, having considered the views of those consulted on the budget, and subject to proper process as required, Council agreed to:

General Fund Revenue Budget

1.             note the 2024/25 forecast projected overall variance of £26.0m, after the use of corporate provisions and reserves, or 8.8% of the agreed budget of £293.838m as set out in Section 6 of the report, and that this year-end overspend will be met from corporate provisions and reserves;

2.             endorse the budget cut reduction measures of £0.850m (previously agreed) and £3.848m (agreed in 2024/25), for 2025/26 as set out in Section 6 of the report and summarised in Appendix Y1 and Y2 respectively;

3.             agree the allocation of £65.023m of resources from; the corporate risks and pressures, Adult Social Care precept, social care grant, Adult Social Care market sustainability and improvement fund, New Homes Bonus, Recovery Grant, Children’s Social Care Prevention Grant, government funding for increased employers National Insurance Contributions (NICs) and reserves in 2025/26 to be invested in funding quantified budget pressures and opportunities, both recurring and once-off, as set out in Section 6;

4. agree a General Fund Budget Requirement of £312.515m for 2025/26 be approved;

5. agree to a 4.99% increase in Lewisham’s Council Tax element. This will result in a Band D equivalent Council Tax level of £1,644.75 for Lewisham’s services and £2,135.13 overall. This represents an overall increase in Council Tax for 2025/26 of 4.77% and is subject to the Greater London Authority (GLA) precept for 2025/26 being increased by £18.98 (i.e. 4.03%) from £471.40 to £490.38, in line with the GLA’s draft budget proposals;

6. note the Council Tax Ready Reckoner which, for illustrative purposes, sets out the Band D equivalent Council Tax at various levels of increase. This is explained in Section 6 of the report with more detail in Appendix Y4;

7. ask that the Executive Director for Corporate Resources issues cash limits to all Directorates once the 2025/26 Revenue Budget is agreed and publishes the Council Budget Book;

8. consider the Section 25 Statement from the Chief Finance Officer, the Executive Director for Corporate Resources. This is attached at Appendix Y5;

9. agree the draft statutory calculations for 2025/26 as set out at Appendix Y6;

10. note the prospects for the revenue budget for 2025/26 and future years, including the planned use of £21.895m of reserves to enable the setting of a balanced budget,  ...  view the full decision text for item 8.

The motion was MOVED by Councillor De Ryk, SECONDED by Councillor Rathbone and it was RESOLVED that the Pay Policy Statement for 2025/26 as attached at Appendix 1 to the report be approved.