Mayor John Biggs moved, the budget and council tax proposals of the Mayor and Executive as set out in the agenda pack. Councillor Candida Ronald seconded the proposals.

 

Councillor Andrew Wood moved the amendment set out in the supplementary agenda, but, due to the absence of a seconder, this amendment could not be considered.

 

Following debate, the substantive Budget for 2022-23, the Council Tax Resolution and the Treasury Management Strategy and Investment Statements and the Capital Report submitted by Mayor John Biggs were put to  a recorded vote and were agreed.

 

DECISION:

 

Budget Motion

 

Revenue 2022-23 and Capital 2022-25

 

1.     To note a General Fund Revenue Budget of £389.473m and approve a Council Tax (Band D) of £1,124.39 (Council share) for 2022-23 as set out in the motion and Council Tax Resolution attached at Annex 1 to the Council report. This incorporates a freeze to the Tower Hamlets element of Council Tax and to only levy a 1% Adult Social Care precept for 2022-23.

 

2.          To note the GLA precept as set out in the Council Tax Resolution.

 

3.          To note the changes in the budget report appendices to reflect the final Local Government Finance Settlement grant allocations (Annex 2 Appendix 1A, 1B, 2 and 3A)

 

4.          To note the Capital Programme, Housing Revenue Account budget and Dedicated Schools budget

 

 

Treasury Management Strategy Statement, Investment Strategy and Capital Strategy 2022-23

 

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

 

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

 

Local Council Tax Reduction Scheme (LCTRS)

 

9.          To note that the Local Council Tax Reduction Scheme will remain unchanged for 2022-23.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BUDGET COUNCIL

2^ND MARCH 2022

COUNCIL TAX REQUIREMENT 2022-23

 

 

That Council:

 

1.             Approve the Council Tax Resolution detailed in Appendix A to this motion.

 

2.             Agree a General Fund revenue budget of £389.473m and a Council Tax requirement for Tower Hamlets in 2022-23 of £121.674m.

 

3.             Agree the Council’s 2022-23 Budget Report set out in Annex 2.

 

4.             Agree the report of the Corporate Director Resources (S151 officer) to the Audit Committee of 27^th January 2022; Treasury Management Strategy Statement Investment Strategy Report and Capital Strategy Report for 2022-23 set out in Annex 3.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appendix A

LONDON BOROUGH OF TOWER HAMLETS

COUNCIL 2^nd MARCH 2022

COUNCIL TAX RESOLUTION

 

1.     That the revenue estimates for 2022-23 be approved.

 

2.         That it be noted that, at its meeting on 18^th January 2022, Cabinet agreed 108,213 as its Council Tax base for year 2022-23 [Item T in the formula in Section 31B of the Local Government Finance Act 1992, as amended (the Act)]

 

3.         That the following amounts be now calculated by the council for the year 2022-23 in accordance with Section 31 to 36 of the Local Government Finance Act 1992 as amended and the Local Authorities (Alteration of Requisite Calculations) (England) Regulations 2011.

 

(a)	£1,334,441,266	Being the aggregate of the amounts which the council estimates for the items set out in Section 31A(2) of the Act [Gross Expenditure]
(b)	£1,212,767,651	Being the aggregate of the amounts which the council estimates for the items set out in Section 31A(3) of the Act [Gross Income]
(c)	£121,673,615	Being the amount by which the aggregate at 3(a) above exceeds the aggregate at 3(b) above, calculated by the Council, in accordance with Section 31A (4) of The Act, as its council tax requirement for the year (Item R in the formula in Section 31 B of The Act) [Council Tax Requirement]
(d)	£1,124.39	Being the amount at 3(c) above (Item R), all divided by Item T (2 above), calculated by the Council, in accordance with Section 31B (1) of The Act, as the basic amount of its Council Tax for the year [Council Tax]

 

5.         Being the amount given by multiplying the amount at 3(d) above by the number which, in the proportion set out in Section 5(1) of The Act, is applicable to dwellings listed in a particular valuation band divided by the number which in that proportion is applicable to dwellings listed in valuation band D, calculated by the Council, in accordance with Section 36(1) of The Act, as the amount to be taken into account for the year in respect of categories of dwellings listed in different valuation bands. Tower Hamlets Council Tax:

 

Band A	Band B	Band C	Band D	Band E	Band F	Band G	Band H
£749.59	£874.53	£999.46	£1,124.39	£1,374.26	£1,624.12	£1,873.98	£2,248.78

 

6.         That, it be noted that for the year 2022-23 the Greater London Authority(GLA) has stated  the following amounts in precepts issued to the Council, in accordance with Section 40 of the Local Government Finance Act 1992, for each of the categories of dwellings shown below:

 

Band A	Band B	Band C	Band D	Band E	Band F	Band G	Band H
£263.73	£307.68	£351.64	£395.59	£483.50	£571.41	£659.32	£791.18

 

 

 

 

6.     That, having calculated the aggregate in each case of the amounts at 4 and 5 above, the council in accordance with Section 30(2) of the Local Government Finance Act 1992, hereby sets the following amounts as the amounts of Council Tax for the year 2022-23 for each of the categories of dwellings shown below:

 

Band A	Band B	Band C	Band D	Band E	Band F	Band G	Band H
£1,013.32	£1,182.21	£1,351.10	£1,519.98	£1,857.76	£2,195.53	£2,533.30	£3,039.96

 

7.          That the council hereby determines in accordance with Section 52ZB of the Local Government Finance Act 1992, that its relevant basic amount of Council Tax for 2022-23 is not excessive in accordance with the principles approved by the Secretary of State under 52ZC of the Local Government Finance Act 1992. As the billing authority, the council has not been notified by a major precepting authority that its relevant basic amount of Council Tax for 2022-23 is excessive and that the billing authority is not required to hold a referendum in accordance with Section 52ZK of the Local Government Finance Act 1992.

 

 

(Action by: Kevin Bartle Corporate Director (Resources))