The county council has approved its latest budget to tackle its £13.9m black hole, despite uncertainly over upcoming government announcements. 

Oxfordshire County Council rubber-stamped the recommendations at its meeting on Tuesday, October 15. 

The council's budget for 2024/25 included broad plans for 2025/26, noting additional funds would be required for demographic growth in social care, increased waste tonnages, anticipated population growth, housing changes, and inflationary pressures.

At that early stage, it was calculated a shortfall of £13.9m would need to be addressed for 2025/26.

This is a relatively good position compared to other county councils across the country. For example, Hampshire County Council has a budget deficit of more than £170m. 

This shortfall could increase with any additional or new pressures and decrease with any funding or new savings.

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Liz Leffman (Image: Contributed) The final budget will be set in February next year.

Like other councils across the UK, Oxfordshire County Council is awaiting news on the newly elected government's approach to local government finance, which could be partially covered in the chancellor's autumn statement on October 30.

Over the past decade, local government grant funding has been reduced, while services have faced increased demand, particularly in children's and adult's social care.

This has resulted in widespread financial challenges in the sector, the county council said.

Other key information, such as how the national living wage will operate from April 1 next year is also yet to be confirmed.

Council leader Liz Leffman said: “There is a budget deficit of £13.9m that needs to be closed by February 2025, but at the same time there is uncertainty over funding over the next financial year.

"We don't know what is going to come up from the autumn statement on October 30. We may find there is information on council tax for next year and approaches for other funding.

"Also the increases to national living wage which will have an impact on the budget. 

“There will be a wider review of the budget in March next year, but it's very difficult to predict anything at the moment.”

While the chancellor's statement on October 30 may provide more information, individual councils will not be informed about grant funding levels until late December.

The council will publish its first detailed budget proposals for 2025/26 in late November.

A consultation will follow, building on information already gained from locals through the council’s annual residents’ survey, a budget simulator exercise, and engagement events.

The budget report was unanimously approved.