Bristol City Council budget not passed
Councillors will meet again next week (28 February)
Councillors in Bristol have failed to so far set an agreed final budget for the 2024/5 financial year.
The proposed budget was not passed by the required majority of councillors, meaning it's heading to a second reading following the meeting today (20 February) at City Hall.
The proposals set out another balanced and legal budget for the coming year, following public consultation in 2023.
In the budget, there's a £530.1 million revenue budget for the upcoming financial year, alongside £2.7 billion of capital funding for major projects over the next ten years.
The budget also included £490 million for local schools and a £3.1 billion 30-year housing plan, which would deliver 3,000 new council homes by 2029.
Because it's a legal requirement for the council to set a balanced budget by 11 March, ahead of the start of the upcoming financial year, they will meet again next week (February 28) for a second reading.
The Mayor will now consider whether to move the original budget, the amended budget, or an alternative budget at next week’s Full Council meeting.
Read more: Bristol City Council debating the Budget