Budget for 2023 / 24
Ludlow Town Council delivers local services including Ludlow Market, Street, Customer Services Information, Cultural Activities Permits, Ludlow Museum at the Buttercross, Linney Riverside Park, Wheeler Road Recreation Area, Children’s Play Areas, Open Spaces, Henley Road Cemetery, Representations on local Planning Applications, Seasonal & Civic Events, Public Conveniences, and Grant Funding.
Ludlow Town Council is committed to the following guiding principles:
• To safeguard local services.
• To be mindful of the detrimental economic impact of the financial crisis.
• To set a sustainable budget for 2023/ 24.
• To set a reasonable and workable timetable to facilitate the projects.
• To set a three-year budget trajectory for financial sustainability and resilience
Financial planning and budget setting are difficult in the current economic climate. Inflation is 10.5%, and energy prices have risen steeply. The running cost for the Guildhall and Buttercross have increased. The Town Council has decided that fees charged to use their local services will be kept as low as possible, and efficiency savings will be made wherever possible.
Between 2022/23 and 2023/24, Ludlow’s Council’s Council Tax taxbase decreased from 3,576.56 to 3,532.64. In financial terms, it is immediate deficit of £8,707.00 in town council’s budget.
Reasons for the decrease could be holiday home relief, single person discount, low income, or receipt of benefits reductions, and lack of new build housing to bring extra people into the town. It is unlikely that Ludlow’s council taxbase will increase in future years because new house building now takes place in the neighbouring parish of Ludford. In real terms, this means that the Council Tax burden for the population of Ludlow will increase at a disproportionately higher rate than that of Ludford.
The budget set by Ludlow Town Council for 2023 / 24 is an annual increase to council tax of £20.79, which is a weekly increase of 40p.
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