The war in Ukraine could yet have an impact on Liverpool Council’s budget.
As conflict intensifies in Eastern Europe, the local authority has warned that the increased inflation risk relating to energy costs in the current financial year could mean it is forced to call on its reserves. According to the council’s cabinet report to be discussed on Friday, there will potentially be a call on its general fund reserve of more than £30m to cover the increasing costs.
The revenue monitoring report said: “The city council set its general fund budget for 2022/23 to 2025/26 on the 2 March 2022. Since the budget was set there has been increased inflation risk around energy price increases exacerbated by the war in the Ukraine.
