13/09/2022 - Part A: Medium Term Financial Plan (MTFP) Update & Part B: Cabinet Response: Responding to Our Medium-Term Financial Plan

Part A: Medium Term Financial Plan Update
Part A outlines the outcomes of the Medium Term Financial Plan (MTFP) Update, highlighting the continuing financial scarring impacts as a result of the pandemic and the adjustments needed to the approved MTFP forecasts and assumptions in order to present the most accurate forecast of the Council’s financial position and saving requirement over the medium term period. It is recommended that the updating of the MTFP continues to be iterative and the underpinning MTFP forecasts and assumptions retested throughout the year and reported to Cabinet and Scrutiny Committees as part of the Council’s 2023/24 budget setting process.
Part B: Cabinet Response: Responding to Our Medium Term Financial Plan
Part B outlines the Cabinet’s response to addressing the financial challenges the Council faces over the medium term period.
The Cabinet’s ambition remains on delivering impactful and outcomes-focused transformational change for communities and businesses across Stockport. This will involve bold and ambitious decisions about how the Council works in the future. However, in order to do that the Council needs a robust and resilient budget and MTFP to enable us to face and respond to the unprecedented uncertainty, volatility and risk ahead.
The report provides an overview of the significant complexity facing the Council’s financial position. It outlines the approach the Cabinet is proposing to take to meet the budget gap identified within the MTFP update and introduces a series of proposals which seek to deliver a financially resilient position.

Decision Maker: Cabinet

Decision due date: 20/09/2022

Wards affected: (All Wards);

Lead officer: Jonathan Davies, Holly Rae

Notice of decision: 13/09/2022

This decision will be taken under urgency procedures.

Reason for urgency:
The Cabinet needs to initiate consultation on the proposals contained within its response to the Medium Term Financial Plan. Delay in consideration of these proposals would result in insufficient time for consultation through the Council’s scrutiny committees.

Anticipated restriction: Open

15/01/2021 - Ash Hotel Development, Heaton Chapel

Decision Maker: Cabinet Member for Climate Change & Environment

Decision due date: 15/01/2021

Wards affected: Reddish South;

Lead officer: Max Townsend