Targeting support to make things fairer
How the Council manages debt
The Council expects that the percentage of the budget spent on debt will decrease from 18.2% in 2020/21 to 14.3% by 2029/30. This shows the Council's commitment to reducing borrowing and taking a careful approach.
We follow strict rules (the prudential code) to make sure any new borrowing is affordable. Each year, we review the borrowing for big projects.
In the past, we used borrowing to fund important projects such as:
- regeneration schemes
- housing
- leisure facilities
- schools
- highways
- footpaths
- transport schemes
These investments also helped increase the Council's income.
Having low-rate, long-term loans will benefit future leaders by putting them in a strong financial position.