Mayor Lutfur Rahman moved, the budget and council tax proposals of the Mayor and Executive as set out in the agenda pack and the Aspire Group’s amendment set out in the supplementary agenda. Councillor Saied Ahmed seconded the proposals.

Councillor Marc Francis moved the Labour group amendment set out in the supplementary agenda, which was seconded by Councillor Sirajul Islam. Amendments proposed by Councillor Nathalie Bienfait for the Greens and Councillor Peter Golds, for the Conservatives were also considered who seconded each other’s amendments.

Following debate, the amendments moved by Councillors Marc Francis, Nathalie Bienfait and Peter Golds were put to a recorded vote and were rejected. The substantive Budget for 2023-24, including the administration amendment, the Council Tax Resolution and the Treasury Management Strategy and Investment Statements and the Capital Report submitted by Mayor Lutfur Rahman were put to a recorded vote and were agreed.

DECISION:

Budget Motion:

Revenue 2023-26 and Capital 2023-26

1.    To note a General Fund Revenue Budget of £446.205m and approve a Council Tax (Band D) of £1,146.88 (Council share) for 2023-24 as set out in the motion and Council Tax Resolution attached at Annex 1 to this report. This incorporates a freeze to the Tower Hamlets element of Council Tax and to only levy a 2% Adult Social Care precept for 2023-24.

2.    To note the GLA precept as set out in the Council Tax Resolution is subject to the approval of the GLA Assembly at their meeting scheduled for 23 February, any changes as a result of that meeting will be made known to Council before the date of this meeting.

3.    To note the change in the budget report appendices to reflect the final Local Government Finance Settlement grant allocation for the Services Grant which was increased by £0.178m (Annex 2 Appendix 1A, 1B, 2 and 6).

4.    To note the Capital Programme, Housing Revenue Account budget and Dedicated Schools budget. Treasury Management Strategy Statement, Investment Strategy and Capital Strategy 2023-24

5.    To adopt the Treasury Management Strategy Statement set out in Annex 3 Appendix A attached to this report.

6.    To adopt the Investment Strategy Report set out in Annex 3 Appendix B attached to this report.

7.    To adopt the Capital Strategy Report (which incorporates the Minimum Revenue Provision Policy Statement) set out in Annex 3 Appendix C attached to this report.

Section 25, Local Government Act 2003

8.    To note the Section 151 officer’s view on the robustness of estimates and adequacy of reserves required under Section 25 of the Local Government Act 2003, set out in section 2 of this report.

Local Council Tax Reduction Scheme (LCTRS)

9.    To note that the Local Council Tax Reduction Scheme will remain unchanged for 2023-24.

Administration budget amendment – Full Council 1 March 2023

This Council notes:

1.    The draft budget considered by Cabinet on 25 January 2023 included the following two savings proposals:

2.    The administration has further considered the Re-commissioning Hostel Support saving and believes that the commissioning  ...  view the full decision text for item 5

Mayor Lutfur Rahman moved, the budget and council tax proposals of the Mayor and Executive as set out in the agenda pack and the Aspire Group’s amendment set out in the supplementary agenda. Councillor Saied Ahmed seconded the proposals.

Councillor Marc Francis moved the Labour group amendment set out in the supplementary agenda, which was seconded by Councillor Sirajul Islam. Amendments proposed by Councillor Nathalie Bienfait for the Greens and Councillor Peter Golds, for the Conservatives were also considered who seconded each other’s amendments.

Following debate, the amendments moved by Councillors Marc Francis, Nathalie Bienfait and Peter Golds were put to a recorded vote and were rejected. The substantive Budget for 2023-24, including the administration amendment, the Council Tax Resolution and the Treasury Management Strategy and Investment Statements and the Capital Report submitted by Mayor Lutfur Rahman were put to a recorded vote and were agreed.

RESOLVED:

Budget Motion:

Revenue 2023-26 and Capital 2023-26

1.    To note a General Fund Revenue Budget of £446.205m and approve a Council Tax (Band D) of £1,146.88 (Council share) for 2023-24 as set out in the motion and Council Tax Resolution attached at Annex 1 to this report. This incorporates a freeze to the Tower Hamlets element of Council Tax and to only levy a 2% Adult Social Care precept for 2023-24.

2.    To note the GLA precept as set out in the Council Tax Resolution is subject to the approval of the GLA Assembly at their meeting scheduled for 23 February, any changes as a result of that meeting will be made known to Council before the date of this meeting.

3.    To note the change in the budget report appendices to reflect the final Local Government Finance Settlement grant allocation for the Services Grant which was increased by £0.178m (Annex 2 Appendix 1A, 1B, 2 and 6).

4.    To note the Capital Programme, Housing Revenue Account budget and Dedicated Schools budget. Treasury Management Strategy Statement, Investment Strategy and Capital Strategy 2023-24

5.    To adopt the Treasury Management Strategy Statement set out in Annex 3 Appendix A attached to this report.

6.    To adopt the Investment Strategy Report set out in Annex 3 Appendix B attached to this report.

7.    To adopt the Capital Strategy Report (which incorporates the Minimum Revenue Provision Policy Statement) set out in Annex 3 Appendix C attached to this report.

Section 25, Local Government Act 2003

8.    To note the Section 151 officer’s view on the robustness of estimates and adequacy of reserves required under Section 25 of the Local Government Act 2003, set out in section 2 of this report.

Local Council Tax Reduction Scheme (LCTRS)

9.    To note that the Local Council Tax Reduction Scheme will remain unchanged for 2023-24.

Administration budget amendment – Full Council 1 March 2023

This Council notes:

1.    The draft budget considered by Cabinet on 25 January 2023 included the following two savings proposals:

2.    The administration has further considered the Re-commissioning Hostel Support saving and believes that the commissioning  ...  view the full minutes text for item 5