Cheltenham Borough Council has approved its budget for 2024-25 which commits to the continued economic growth and development of the town whilst ensuring resources are available to support communities.
The council has pledged continued investment in commercial projects like the Golden Valley development and the regeneration of town centre buildings, which it says will enable local services to be protected despite the financial challenges local authorities are facing nationally.
In the short term, the council will also look to make savings in other areas, including around £1 million by bringing its housing services back in-house — closing its arms length company Cheltenham Borough Homes.
Councillor Peter Jeffries, cabinet member for finance and assets, said: 'Over the last two years the council has continued to demonstrate its commitment to supporting our residents, investing in our town and putting Cheltenham first, despite the financial uncertainty caused by the pandemic and the cost of living crisis.
'It is inevitable that the pressures we’ve faced has meant that we need to continue to deliver savings and efficiencies and protect core services for our residents.
'In 2024-25 we need to deliver another challenging savings strategy to balance our budget as demand for services increases and Government funding is still outpaced by rising costs.
'Continued investment in programmes like Golden Valley Development in West Cheltenham will provide economic growth which will not just benefit our council finances but will deliver positive outcomes for all in Cheltenham.'
Through the Golden Valley development, the council hopes to make Cheltenham 'the cyber capital of the UK', creating a national centre of excellence for the cyber sector and wider tech industries following the provisional award of £20 million Levelling Up Funding.
It is also supporting the town centre economy with a £5.8m investment package for the High Street and the Minister Exchange, which will be completed in spring 2024.
