Nottingham City Council has significantly reduced the budget gap it is facing next year by two thirds due to “major improvements and efficiencies being implemented or planned.”
A report to the Council’s Executive Board on 21 January set out the latest budget position for 2025/26 which shows a projected budget deficit of £23.4 million, down from the £69 million gap forecast in June last year.
The cumulative budget gap over the period of Council’s Medium Term Financial Plan to 2028/29 has reduced from £172 million forecast last year to £56.8 million.
Council Leader, Cllr Neghat Khan said: “The reduced budget gap is the result of the significant work we have been undertaking to get our house in order, making major changes to become more efficient and put the Council on a solid financial footing for the future.
“The much improved financial settlement which Nottingham is to receive from the Government which includes an extra £30 plus million for next year has also had a positive impact on our financial position.”
