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"Substantial savings" coming to Cambridge by 2029

Photo: The Guildhall, Cambridge market square

Cambridge City Council says it needs to save around £11.1-million in five years.

The authority has said it needs to save around £11.1million by 2028/29.

Councillor Simon Smith, executive councillor for finance and resources, said the central government was creating uncertainty for the council, but it was planning to make recurring net savings of £6-million per annum within three years.

He said this would be offset by allocating £1.5millon per annum from business rates retention funds to the council’s general fund.

Cllr Smith also raised the recent government announcements around the "Cambridge 2040" project, which aims to see the development of new homes and life science jobs in the city.

He said the authority’s "key message" to the government was that funding public services was “vital” to this growth.

Some councillors hit out at the report for not including enough information about how the targeted savings would be made.

City Council leader Councillor Mike Davey said the presented document was not the one to provide that detailed information and said this would be set out during the budget preparation process.

Cllr Smith confirmed the authority was not currently projecting to save the £11-million over the next five years.

He said the council’s financial position would be reviewed each year and said the authority would not make savings in "haste" and would take a "prudent approach".
 

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