Ipswich Borough Council plans 100 ways to cut future costs

In the last financial year, five councils in the UK have issued effective bankruptcy notices - with the Local Government Association reporting that councils in England will face a £3billion gap in finances for the next two years.

Taking note of this, Ipswich council launched a month-long scheme to look into savings in June. 

The council has said this has resulted in 100 ways for the council to reduce its spending, many of which are being enacted. 

Martin Cook will discuss these methods at a meeting on Tuesday. (Image: Martin Cook)

These ways will be discussed by the council's executive committee on Tuesday and will be presented by portfolio holder for resources Martin Cook. 

In a pre-meeting report, Mr Cook wrote: "The continuing inflation position and the potential pay award position will put the council’s finances under further strain, meaning that delivery of savings and improvements in the council’s broader financial position remains vital."

However, he noted the last year has been difficult on the council's finances, with reasons ranging from post-pandemic economics to inflation. 

This has resulted in the council being in an overall debt of £204,495,485 - but is not believed to be a worrying situation as a large portion of these are assets.

Colin Kreidewolf said the dip in assets value is not worrying. (Image: Newsquest) These assets include land and property that the council own, which took a dip in market valuation in 2023/24.

Colin Kreidewolf, chair of the borough's asset management group Ipswich Borough Assets (IBA), said: "Since its inception in 2016, IBA has generated over £20million in income for Ipswich Borough Council.

"Although the recent decline in asset valuations is disappointing, it is not a cause for concern as we have no intention of selling these assets.

"Our investment strategy focuses on long-term returns, and with the property market showing signs of recovery post-pandemic, we remain optimistic about the future.”

Changes to Chantry Park will be externally funded. (Image: Clarke and Simpson/IBC) Going forward, the borough council has started enacting some of the 100 methods to help save in the coming years. 

For example, the council has externally raised £120,000 for the Changing Places plans, which will refurbish areas at Christchurch and Chantry parks. 

Likewise, it has won a £36,000 bid to expand the Safer Streets 4 scheme, which include adding CCTV and lighting to areas in Suffolk's county town. 

There is also a focus on how improving efficiency could help with saving unnecessary costs. 

The council has found avenues to cut spending in the town centre. (Image: Ipswich Borough Council)

Hence, £112,000 is being used to purchase three additional vans for the maintenance and contracts team to allow the repair workers to continue to work at optimum level.

A further, £229,000 is being used to purchase software for waste and fleet - used for service improvements and to generate efficiency savings.

Additionally, the council said it has worked on saving money where it can, and generated more than £3m of savings that will be either carried forward to 2024/25 or reserved. 

A huge proportion of this comes from the town centre works, where the council has saved £1.4m and hopes to continue to do so in the next financial year. 

The council will not be spending as much to maintain the Little Waitrose building. (Image: Archant)

The public funds for Safer Streets and reducing costs of the former Little Waitrose building in Princes Street's upkeep have helped build this budget. 

Meanwhile, the council said it has and aims to continue saving costs in managing its properties - which includes reducing planned maintenance and central heating. 

The Towns Fund organised by council leader Neil MacDonald will not be affected by changes. (Image: Newsquest)

It is not making many changes to the Towns Fund, which will also be presented at the meeting by borough council leader Neil MacDonald. 

The fund will aim to regenerate shops and other businesses across Ipswich, which it hopes will bring in more money that can help the budget grow.  

Cuts are being made to the core investment of the council, such as the amount of purchase and infrastructure upkeep - which saved £587,000 last year.

Finally, it is also aiming to make savings from general funds, which help the overall day-to-day workings of the council.