The Hull City Council review committee and cabinet are expected to discuss the council’s financial strategy through 2026.
Council leader Councilor Mike Ross said: ‘The majority of funds spent by the council are government grants, and we don’t yet know if the government will increase its grants to keep pace with rising costs. We will certainly be pushing hard to at least increase their subsidies to Hull to keep pace with rising costs.
“It is important for the Council to have a realistic and up-to-date financial plan. Like households across the city looking at their own housing budgets, the rising cost of living is an issue for the Council. The price of many of the raw materials used by the Council has skyrocketed. While the cost of fuel bills weighs on residents’ household budgets, rising energy prices increase the cost of running buildings and City services.
“That’s why we need to rethink how to spend taxpayers’ money wisely, make sure every penny counts and ensure that the services people depend on most are prioritized.
Councilors will consider a proposal to ask council staff to identify ways to save one per cent of council budgets this fiscal year and another three per cent next year. They will look for ways to increase the Council’s income, reduce costs and modernize the Council’s working methods.
Scrutiny will discuss this issue on July 22 and the Cabinet on July 25.