Warrington Council leader speaks out on investment strategy

Cllr Hans Mundry’s comments come amid major financial challenges facing the Labour-run authority, which is currently forecasting an overspend of £20.904 million.

In February 2024, the council approved a budget of £194.292 million for the 2024-25 financial year, which included savings targets of £15.9 million.

At its meeting on Monday, the cabinet was updated on the budget forecast position at period eight, which accounts for spend to the end of November 2024.

During the meeting, Cllr Denis Matthews – who is the cabinet member for finance, assets and investments – said setting a legal, balanced budget has ‘never been harder for any council’.

He added: “Far too many have been forced to issue Section 114 notices in recent years and a significant number are expected to require exceptional financial support from the Government to be able to balance their 25/26 budget – the positive news is that Warrington is not one of them.”

Cllr Hans Mundry said the council’s investments ‘overall’ are ‘still making a surplus’ of around £23 million per year ‘at the last count’.

He highlighted a change in direction which the council is ‘moving in now’, as it looks at ‘no longer’ borrowing money to invest.

“But, nevertheless, what this council did, when it did, ensured that we were not one of the councils issuing 114s, we wasn’t one of the councils asking the Government for extra funding, and we wasn’t one of the councils where investment was losing money,” he said.

Cllr Mundry added that Warrington ‘can hold its head high there’ and highlighted that it ‘found extra resources within our own means’ to support the people of Warrington.

Furthermore, he stated ‘times have changed a bit’ and ‘we are now moving in a different direction’.

Image Credits and Reference: https://www.warringtonguardian.co.uk/news/24862096.warrington-council-leader-speaks-investment-strategy/?ref=rss