Decision details

To recommend the Housing Revenue Budget for 2025/26 to Council

1)         1) To thank Tenants’ and Leaseholders’ Forum, Housing Scrutiny Commission and others who have commented on our draft Housing Revenue Account budget.

2)         I am grateful for the recognition from consultees of the challenging financial position the multiple budget pressures create.

To recommend to Council the following:

3)         Approve the Housing Revenue and Capital budgets for 2025/26, as described in the report submitted by the Director of Housing, including:

i)          Approve rent changes for tenants for 2025/26 as follows:

-           2.7% increase to core rent;

-           2.7% increase to garage rent.

-           2.7% increase for Hostel rent and service charges;

-           4% increase for Gypsy and Traveller plot rent;

ii)         Approve service charge changes for tenants and leaseholders for 2025/26 as follows:

-           A reduction in the charges for District Heating as set out in section 4.6.3 of the report, including a 25% reduction in the variable charge for metered heat, a 20% reduction in the fixed metered charges, and a 26% reduction for those without meters;

-           reducing the charge for waylighting by 9.1%;

-           applying increases to all other service charges of 1.7%, in line with CPI.

iii)        Agree to delegate to the City Mayor the authority to reduce service charges by the extent to which this represents a change to the cost of providing those services.

iv)        Note the equality impact assessment of the proposed revenue and capital reductions required to present a balanced budget, at Appendix J;

v)         Note that the scheme of virement (included within the General Fund Revenue Budget report which is also on your agenda) applies also to the HRA budget with total expenditure and total income acting as budget ceilings for this purpose;

vi)        Agree that the delegations and determinations applicable to the main capital programme (which is also on your agenda) shall also apply to the capital programme in the Director of Housing’s report;

vii)       Note that the capital strategy in the main capital programme report also applies to the HRA.

The Housing Revenue Account budget forms part of the budget and policy framework. Its approval is the responsibility of the full Council; the City Mayor is responsible for the preparation of a proposal for Council consideration.

A draft programme was considered by Housing Scrutiny Commission on 7th January 2025.

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