Page updated February 2024
Since 2010, due to government cuts, the council has made savings of around 60p in every £1.
We’re also one of the lowest-funded councils in the country, which means that more than many other councils, we need to look at other, creative ways to offset the very worst of the cuts we’ve had to bear.
We use money we borrow to invest in assets that support economic regeneration and service improvement, alongside providing a commercial return to the council.
Our commercial approach has led us to make investments in multiple assets, which are primarily heavily secured and most of which are ‘bricks and mortar’, like Birchwood Park. These investments are supporting local jobs and promoting the local economy, as well as generating income - more than £23 million a year. Our investments are also helping us on our mission to be a truly green council – through projects like our pioneering solar farm investments.
Balancing the risks
We simply don’t receive enough funding to pay for services that people in our town deserve and need, especially our most vulnerable people, without making these investments.
All of our investments are, however, subject to meticulous due diligence and external expertise and we make each separate investment decision very carefully. They are monitored on an ongoing basis and their performance reported to elected members on a quarterly basis. While we are aware that any investment we make isn’t risk free, we remain confident in our overall approach and always work to mitigate any exposures we have in investments in case things don’t go to plan.