The Isle of Wight Council's leading Alliance group says a 2.99 per cent rise in council tax will help fund a budget in which up to £29 million will be invested in new homes for Islanders, including through a new council-owned housing company.

The rise would be split between a 1.99 per cent hike on the main bill, plus an extra one per cent for adult social care - 86p per week for a typical band C taxpayer.

Fees and charges will also increase.

There will be more support for households on low incomes, from April 1, 2023.

Isle of Wight County Press:

Blaming an inherited financial situation, Councillor Chris Jarman, cabinet member for strategic finances, said £3 million in savings must be achieved, however.

The proposed 2022/23 budget will be considered by the scrutiny committee on Tuesday and by cabinet members, on February 10.

The local authority is proposing a £400 million spending plan, saying it is 'applying the brakes to the former approach of managing decline and plotting a new course to a positive future for the Island and its community.'

Councillor Jarman said: "We need to reinvigorate the council and start to develop a financial strategy, built on growth rather than cuts.

"If we fail to do this, then key services that support our residents, our Island and our community will either cease or cease to be sustainably adequate for the need and demand.

"Our aim is to invest as much of the council’s money as possible on the Island for the benefit it can provide in supporting jobs and the economy."

  • Find out more about the council's proposed spending plans at virtual meeting (via Microsoft Teams) on Wednesday, February 9, at 6pm.
  • To register to attend and receive the link, click here.

Isle of Wight County Press:

Meanwhile, more than £40 million will be spent on new capital projects in the next year.

They range from major investment in affordable housing, to money for a new cultural centre, as part of the regeneration of Newport Harbour.

More than £1.5 million is proposed for adult social care, with £1.4 million to improve the availability of independent living flats for those who need high levels of support.

To help Islanders with disabilities to remain in their homes, a further £708,000 in improvement grants will also be set aside.

In education, the new £4.9 million primary school in the West Wight will open in January 2023 and almost £9 million will be spent in refurbishing the Bay School's secondary site, by October 2022.

Other substantial work will be completed at Newchurch Primary School and Medina House School this summer, said the group.

Isle of Wight County Press:

The council also plans to spend £3 million on infrastructure and transport.

Around £75,000 has been ringfenced to repair and reinstate footpaths and other rights of way damaged during last summer's floods.

£170,000 would be set aside for painting Shanklin cliff lift and replacing the lower canopy.

All councillors will vote on the proposals on February 23.