Later this month, Test Valley Borough Council will be setting its budget for the 2022/23 financial year.

It’s a tough set of circumstances for local authorities – and just like any household budget, we’re also impacted by rising inflation.

In order to maintain frontline services and to help deal with the ongoing impact of Covid, we are once again proposing to use a modest amount from our reserves. The details of which will be published next week.

Useable reserves have to be built up in the good times to help offset the impact of unpredicted events such as the pandemic - and I’m pleased that our prudent decisions in previous years have given us the flexibility to do this.

Whilst no final decision has yet been made on our portion of the council tax, our Medium-Term Financial Strategy assumes a below inflation increase of £5 on a Band D property, which would mean an average bill of £153.91 for an entire year of Test Valley Borough Council services. £41 lower than the average for the rest of England. Not only to have your bin collected every week but to maintain the housing & homelessness, planning, licensing, countryside, environmental health, economic development and leisure services - as well as continuing with our ambitious plans to improve our town centres.

I’m pleased that any potential rise will be more than offset for those that need it most, after the government announced a £150 discount for households in Council Tax Bands A to D to help with the cost of living. Around two-thirds of all homes in Test Valley.

The Chancellor has also confirmed that we will also receive a discretionary fund to help lower income households in higher Council Tax Bands. This is on top of our already very generous Council Tax Support Scheme.

One of the reasons our level of council tax is way below average is because we took the decision in 2014 to set up Project Enterprise. At a time when council finances are being increasingly stretched these investments in commercial and residential property have earnt us an additional £1.9m this year then if we had kept that money in the bank. Enabling us to protect frontline services and keep the council tax as low as possible. We never forget that it’s your money.