The Cabinet considered an update to the Council’s 2019/20 to 2022/23 Medium Term Financial Plan (MTFP) forecasts and assumptions taking account of local and national changes since the completion of the MTFP Summer Review and agreed that
· the report, including the announcements made in the Government’s 2018 Autumn Budget be noted;
· the delay to the announcement of the 2019/20 Provisional Local Government Finance Settlement and the impact changes in the Council’s settlement funding would have on the revised MTFP be noted;
· the financial forecasts for 2019/20 to 2022/23, and the key issues to be addressed in formulating a response to the financial challenges facing the Council be noted;
· the budget reduction requirement for 2020/221 of £11.831m rising to £33.399m in 2022/23 be noted;
· the unallocated one-off resources identified and the options for the use of this resource as detailed in the report be noted; and
· authorisation be given to the final steps necessary to propose a balanced budget for 2019/20 to the Budget Council meeting on 21 February 2019.