The Executive considered the Medium Term Financial Plan – Financial Landscape and Forecast 2016/17 to 2020/21 report and then agreed that:-
· the recent results of the Comprehensive Spending Review set out in section 2 of the report and their potential impact on spending and the forthcoming local government finance settlement 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 be approved;
· the forecast of one-off available resources of c£5m to support the Investing in Stockport Programme and the indicative cumulative savings requirement for 2017/18 of £13.1m, £30.1m for 2018/19 rising to £58.5m by 2020/21 along with the sensitivity analysis included at Appendices One and Three of the report be approved;
· the Corporate Leadership Team continue to take the steps necessary to ensure a balanced budget for 2016/17 and an updated Medium Term Financial Plan be presented to the Budget Council meeting on 3 March 2016.