'Perfect storm' as cost of living crisis heaps pressure on Telford council finances

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Financial forecasts set only months ago at the council are being ripped up.

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Financial forecasts set only months ago at the council are being ripped up as inflation hits 9.9 per cent and energy bills rocket.

It would be left with just £1.673 million of uncommitted contingency funds to"meet any further pressures which may arise in the remainder of the year". “Sound financial management over many years means that Telford & Wrekin Council are in a strong position to manage these significant challenges. Officers at Telford & Wrekin Council say that since the their financial strategy was approved at full council on March 3 the economic climate has"radically changed, with a rapid increase in the rate of inflation, increases in interest rates and increasing demand for many services partly fuelled by the cost of living crisis facing our residents."

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