Manchester City Council is facing a £153M budget shortfall over the next three years, councillors have heard. A meeting of the resources and governance scrutiny committee heard that although the city’s central government funding settlement for 2022/23 was ‘less bad’ than anticipated, analysis suggested the ‘very frightening’ slashing of public spending in future years.
The council is preparing for cuts of around £40M per year to deal with the financial black hole, with another £51M of reserves used to mitigate the shortfall.
Councillors were presented with a paper titled ‘spending review and budget update’ following the chancellor’s budget announcements late last month.
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