The Executive considered the Medium Term Financial Plan - Financial Landscape and Forecasts 2016/17 to 2020/21 report and agreed that:-
• the recent government announcements set out in section 2 of the report and their potential impact on spending and future Settlement Funding Assessments be noted;
• the financial forecasts for 2016/17 to 2020/21, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;
• the adjustments to the medium term financial plan set out in the tables at paragraphs 3.2 and 4.2 of the report, in particular those relating to the MRP policy and NHB receipts, be approved;
• the £5.29m forecast of available support for the existing Investing in Stockport Programme and the indicative cumulative savings requirement for 2017/18 of £13.3m, £28.6m for 2018/19 rising to £54.5m by 2020/21 along with the sensitivity analysis included at Appendices One and Three of the report be noted;
• steps necessary to ensure a balanced budget for 2016/17 and an updated Medium Term Financial Plan can be presented to the Budget Council meeting on 3 March 2016 continue to be taken.