Isle of Wight Council Slaps Nearly 3% Council Tax Hike to Fund Vital Services
The Isle of Wight Council has approved its 2019/20 budget, hiking council tax by 2.99% from April. That’s an extra 79p a week for the average Band C home. The cash boost aims to protect key services while pumping investment into the Island’s future.
Council Tax Rise to Protect Services
The council insists only a tiny slice – 5% – of its £5.5 million savings target will come from slashing services. This is thanks to clever cost-cutting and new ways to raise income.
£43 Million Set for Big Projects
- £25 million borrowed to back regeneration schemes creating jobs and boosting the economy
- More than £4 million on school refurbishments
- £1.5 million plus for home adaptations to help Islanders with disabilities live independently longer
Council Leader Speaks Out
“We published our budget plans months ago to get public input. Tough decisions were made but the impact is far lighter than last year,” said Council leader Councillor 1 Stewart.
“Thanks to innovation and efficiency, we cut our savings target by £1 million for next year. We’ve even postponed some parking price hikes while we craft a fair strategy.
“This budget protects vulnerable residents and supports hardworking taxpayers. It secures services for the next three years, focusing on long-term financial health, not quick fixes.”
Key Budget Priorities
- Strengthening council stability and resilience
- Backing capital investment for regeneration
- Meeting £5.5 million savings goals
- Setting council tax to safeguard services
- Boosting the council’s financial resilience
Capital Projects Breakdown
- £29.2 million for regeneration projects including business growth and housing
- £1.1 million to improve Newport Harbour’s dredging and harbour walls
- £2 million to upgrade Island care homes in Ryde and Freshwater
- £3.9 million for school improvements
The council’s total net revenue budget for 2019/20 stands at £150 million.
