Charnwood Borough Council approves budget for the year ahead

Charnwood Borough Council has approved its budget for 2024/25.

The budget sees an increase in the Charnwood element of council tax by 8p a week for the average Band D property in the borough.

The council tax increase means the annual charge for the Charnwood element of council tax for an average Band D property will rise by £4.21 over 12 months (three per cent) from April 1, 2024. 

There is also an increase in the Loughborough Special Rate, the equivalent of a parish precept in villages and paid by residents of the town. The Loughborough Special Rate will rise by £1.61 (1.99 per cent) from April 1, 2024.

Cllr Ian Ashcroft, the Council’s lead member for finance, said: “This budget will ensure that we can keep offering residents of Charnwood efficient and effective services during these uncertain financial times.

“We are supporting residents who are struggling with the rise in the cost-of-living with additional funding for Charnwood Community Grants being available to community organisations who are helping those most in need.

“It is important to note that Charnwood only receives around seven per cent of the overall cost that people pay with the majority going to organisations such as Leicestershire County Council, the police and fire service.”