- Standards of Living are set to fall at the fastest rate since records began in the mid-1950s.
- Food and energy prices have increased but wages and benefits fail to keep pace with the rising bills.
- Office for Budget Responsibility has predicted real household incomes will fall by 2.2% this year.
Important to remember!
If you’re struggling financially, then in 99% of cases, its NOT your fault!
What about the politicians?
- This year, during a time of hardship, the the Council put forward a pay rise for City Councillors.
- Two political parties failed to vote against this ridiculous idea; the Liberal Democrats and the Conservatives!
The Councils finances
If you feel like you have somehow failed financially, chances are its not your fault in the slightest!
This is not the case when it comes to the financial chaos at Peterborough City Council!
Don’t forget that the Council employs lots of people with lots of qualifications, including in finance, and there’s lots of well paid staff with fancy titles and alleged “expertise”!
Yet, one of the ONLY reasons the Council is still in existence, is because it got a multi-million pound handout from the Government. A Tory Government, handing out cash to a Tory Council, yet they don’t like “handing” money to people in need?
In total the Government offered £20m to cover the Town Hall gap in finances.
Leader of the City Council, Cllr Wayne Fitzgerald has already said another bailout might be required!
On top of that, the Government have sent in a team of local government experts into the Tory controlled Council, including Chief Executive of Southwark Council, Eleanor Kelly who is expected to chair the group. Members of this team are being paid £800-900 per person, per day!
Oh! And while the Council bemoan cuts to their annual government grant, they also fail to point out that the amounts of business rates they can collect have been significantly increased in recent years, but because they are rubbish at collecting them, its not really helped!
If an organisation like the City Council, with its experts and councillors with experience in “business”, cannot balance the books, how can people like you and me be expected to do so smoothly?
“Of most concern is the inclusion of amounts for an increase in Council Tax above the statutory level for which there is no agreement. The Council also has limited reserves to support them through the MTFS period and at the end of 2019/20 had the lowest ratio of reserves to service expenditure of any of the Council’s Near Neighbours. In summary there is a significant risk that the Council will not be able to balance its budget over the period of the MTFS.”– Peterborough City Council: external assurance review