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Cabinet set to approve future-focused budget to drive Gloucester’s growth

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Gloucester City Council’s Cabinet is set to approve a future-focused money plan and budget that will continue the huge transformation that is currently taking place across the city.

The proposed money plan for the next five years and budget for 2025/26 set out the council’s strategy for balancing its budget and identifies any potential financial risks in the coming years.

The council’s Cabinet are set to approve the plan at a meeting on Wednesday, 12 February.

Local government continues to face ongoing challenges due to rising inflation and interest rates which places the council under significant pressure.

However, the robust money plan and budget would put the council in a strong position to continue driving city’s regeneration while maintaining the essential services that local people value. 

Key elements of the proposed budget include: 

  • £14 million for the completion of the Forum project currently transforming the city centre with premium offices, restaurants, a boutique hotel and 398 space multi-storey car park.
  • £12 million to develop the Greyfriars Quarter, bringing a bold new vision to the Eastgate Shopping Centre including a new market and foodhall, as well as community spaces and outdoor areas. 
  • £8 million for energy efficiency measures such as solar panels at GL1 using funded by the government’s Swimming Pool Fund helping to reduce energy costs.
  • £20,000 to support the graffiti action plan that will help tackle rising reports of graffiti that could include anti-graffiti paints deter vandals and improved lighting.
  • £20,000 to invest in a countywide climate change initiative
  • £100,000 to replace the Council’s waste and recycling vehicles, improving efficiency and service delivery.
  • £30,000 annually over the next few years to improve the city’s play areas creating better spaces for children and families.

As part of the financial strategy, the council proposes to raise the precept by 2.99 per cent to provide additional funding for the budget, above what is allocated by central government.

This is estimated that this would cost an additional £6.88 per year for Band D households.

Councillor Jeremy Hilton, Leader of Gloucester City Council, said: “While we continue to face significant budget challenges, this ambitious yet achievable budget would ensure we can deliver the services people value and push forward with our bold vision for Gloucester’s future. This plan will promote growth and create thriving communities across the city.”

If approved by Cabinet, the money plan and budget will be decided upon by Full Council at a meeting later in February.