1. The Future of Winchester Part 1: Business Budget Briefing 2016/17 – 2020/21

2. Achievements in 2014/15 Rural focus City centre focus Business support

3. Rural focus Market towns LEADER Planning officer support

4. City centre focus Purple Flag Casson block Christmas festivities

5. Business support Grants Food hygiene rating Local Plan Part 2 Training and events Signposting

6. 2015/16 Budget - Expenditure

7. 2015/16 Budget - Income

8. Revenue Consequences of the Capital Programme

9. Significant challenges

10. Guiding Principles Keep Council Tax increases to a minimum Protect front line services Maintain diversity of income/funding streams Support a programme of capital projects Reduce dependency on funding streams such as New Homes Bonus

11. Priorities Grow sources of income Maximise returns from the Council’s non- operational estate Maximise efficiency and value for money in all areas of activity through service transformation Continue effective management of paybill

12. Spending Review and Autumn Statement 2015 – Highlights The government will consult on reforms to the New Homes Bonus, including means of sharpening the incentive to reward communities for additional homes and reducing the length of payments from 6 years to 4 years. This will include a preferred option for savings of at least £800 million (2/3 of the current allocation). We are forecasting significantly lower future receipts. There is still a risk that this could be worse than expected.

13. Spending Review and Autumn Statement 2015 – Highlights DCLG will shortly consult on changes to the local government finance system to pave the way for the implementation of 100% business rate retention by the end of the Parliament. As part of these reforms, the main local government grant will be phased out and additional responsibilities devolved to local authorities.

14. Financial Risks Major projects – e.g. Silver Hill, Station Approach Significantly reduced government funding – e.g. Revenue Support Grant (RSG), New Homes Bonus (NHB). Transfer of risk from central to local government – e.g. Devolution, Business Rates Retention. Delivering Transformation and Organisational Development savings in order to meet savings targets.

15. Questions