Council Tax in West Berkshire is set to increase by four per cent this year

Council tax in West Berkshire is set to increase by four per cent this year.

Three quarters of the increase will go on adult social care in the district.

In a top line announcement of the figures revealed this week, West Berkshire Council said it will invest £220m in schools, roads and social care.

Of that, around £53m is earmarked for education, although details of what will be spent where are yet to emerge.

Around £38m will go on local infrastructure, such as highways.

And a further twelve million pounds has been set aside to fund leisure projects such as the Monks Lane Sports Hub, Newbury Lido and Northcroft Leisure Centre.

The council brings in revenue from council tax, last year around £105m, and business rates – £23m in 2021.

It gets additional adult social care funding of £14m, but is unable to confirm how much it will receive from government next year.

A local authority spending review is unlikely to produce any figures until Spring 2022.

Other investment headlines are that £5m will go on social care growth, with £265k allocated to biodiversity schemes, such as the wild flower verges.

Of the £220m it plans to spend, it will borrow £102m, and must factor in loan repayments into the budget costs.

The council has taken out low-interest loans from the government’s Public Works Loan Board (PWLB) and borrowed money from banks, building societies and other financial institutions.

“It is a balancing act," said councillor Ross Mackinnon (Con, Bradfield), executive portfolio holder for finance. “There are always things we would like to do, but we have to keep an eye on sustainability.”

Around ten per cent of the council’s revenue budget is used to repay loans.

Key among the investment lines is a £22m commitment to environmental projects - there is £12m price tag for a new council solar farm at Grazely.

The council intends to generate its own power from the site, but figures are unclear as to when the investment will break even. Solar farms typically have a 25 year life term.

Additional savings from initial financial outlays also include the change in food waste collection which will cost £900k. It is expected to break even in two to three years, from which point savings on today’s costs are anticipated.

The council also has a commercial investment portfolio of £62m, from which it declares a £1m annual profit is being made. Recent figures show a net income of £700,000.