Issue details

Part A: Medium Term Financial Plan Update and Part B: Cabinet Response: Responding to Our Medium Term Financial Plan

Part A outlines the outcomes of the Medium Term Financial Plan (MTFP) Update, highlighting the continuing financial challenges 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 2024/25 budget setting process.

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 type: Key

Reason Key: Policy Framework & Budget;

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 26/05/2023

Decision due: 19 Sep 2023 by Cabinet

Lead member: Cabinet Member for Finance & Resources

Lead director: Deputy Chief Executive

Department: Corporate and Support Services

Contact: Jonathan Davies, Corporate and Support Services Email: Tel: 218 1025, Gill Lawton Email:

Consultation process


Forward Plan Reference: LDR104/ F&R19

Equality and/or Environmental Impact Assessment: Considered as part of both reports

Relevant Scrutiny Committee for the purpose of call-in: Corporate, Resource Management & Governance

Agenda items


  • Part A: Medium Term Financial Plan Update and Part B: Cabinet Response: Responding to Our Medium Term Financial Plan