Trowbridge local precept could rise by up to nine per cent next year

The town council is now entering its planning phase for its 2025/26 budget for the next financial year from April.

The council’s chief executive Lance Allan told councillors on Tuesday, November 19 they could be facing a seven per cent to nine per cent rise in the town’s precept ahead of the local elections in May.

In his report as the responsible financial officer, he said that Wiltshire Council had confirmed a 51.43 per cent fall in the 'Band D' Council Tax Base from 11930.54 to 11879.11. This has an impact of £14,157 on the precept (0.44 per cent).

READ MORE: Trowbridge council told to reconsider budget

In addition: “The Chancellor's budget increased Employer's National Insurance from 13.8 percent to 15 per cent and the threshold from £9,100 to £5,000. This has an impact of £54,869 on the precept. (1.70 per cent).

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“As previously advised, the council's general reserves are at a dangerously low level and should be increased significantly in the next few years.”

Mr Allan has prepared two options for 2025/26 which show increases of £100,000 to £150,000 next year in general reserves.

An increase of £100,000 on the precept is 3.10 per cent, while an increase of £150,000 on the precept is 4.65 per cent.

In addition, he has estimated an increase in security costs of £2,000 as a result of the likely requirements of Martyn's Law being implemented.

Mr Allan said: “This has an impact of £2,000 on the precept (0.06 per cent). Together with the September CPI Inflation (1.70 per cent) these have an overall impact on the precept of between seven per cent and nine per cent.”

Councillors unanimously approved a recommendation that the council notes that the draft budgets will be presented to each remaining committee through November/December.

There will be a further opportunity at the risk and audit sub-committee on Tuesday, November 26 for councillors to raise any questions and make alternative suggestions.

The budget recommendation will be presented to the council’s policy and resources Committee at the meeting on Tuesday, January 14.

The committee will recommend the local precept to the full council meeting on Tuesday, January 21.