On Wednesday, February 5, we published our budget papers and proposals for 2024/25.

We received late news of funding and after much work and data gathering that had been supplied to government over the past year, we were advised that an extra £3m of grant funding - plus an extra £1m for social care had been made to the Isle of Wight Council which we could factor into the financers of the council this coming year.

Extra money is always useful, as we all know, but this amount was not related to the levels of extra funding we had thought we evidenced to government and was needed to help us deliver the services we must on our Island as opposed to the costs involved in delivering the same services anywhere on the mainland.

Since 2010, continual yearly cuts to our funding have meant savings of around £3m every year have had to be made.

Since 2010, the Isle of Wight Council has made total savings of over £97m and it has been very difficult to send positive messages to our residents as a result.

This year however, we are creating new opportunities for community grants, and we are committed to supporting our towns and parishes by investing over £200,000.

We are increasing gulley cleaning in the worst flooding areas to help our residents there.

We are backing local businesses opportunities by partnering with Solent Partners and investing around £250,000.

For the first time in 13 consecutive years, we have not increased parking charges and we will not increase charges to use the floating bridge either.

Because we have been careful and prudent and have managed the council finances responsibly for the past three years now, we have not added to the council’s debt in taking out loans; in fact, we have reduced our borrowing.

In addition, some loans the council hold are set to end this coming year. What this means is we have not made the burden on the taxpayer any greater since 2021, in fact, we have reduced it.

This has helped us to help our residents and we are continuing to support those residents needing cross-Solent travel for some NHS appointments by paying for their travel.

This is in addition to free parking through the same scheme at car parks nearest to ferry terminals for NHS treatment travellers.

We are also spending £1.8m minimum to provide affordable homes in 24/25, we are investing in coastal protection to help those areas affected by erosion.

These are the issues that we recognise as priorities and concerns for residents and form just part of an overall investment in the Island.

Full Council will vote on these proposals on February 28.