Nottingham City Council's finance chief says "difficult decisions" are needed this year after a new budget gap of £26 million was revealed. The authority says it is operating in a period of "unprecedented financial uncertainty", with an increased demand on its services and the rising cost of energy being among the factors blamed for the deficit.
The £26 million gap has opened up in the budget for this ongoing financial year, which ends next April. But alongside that, the council is also predicting a budget gap of £51 million next year, with an overall gap of £58.7 million over the next four years. The £58.7 million figure includes the £51 million predicted for next year.
There was also an overspend last year of £10 million, which the council says it will meet from its financial resilience reserve. In terms of how the budget gap this year will be filled, Nottingham City Council says plans will be drawn up over the coming months.
