The Chancellor announced increases in the national living wage and employer contributions
Adult social care costs for Nottinghamshire County Council could rise by £31 million following the Chancellor’s announcement on increased minimum wage and National Insurance. Nottinghamshire County Council ’s Cabinet met today to discuss the state of the authority’s finances.
This will come from the council’s external providers as a consequence of the Chancellor’s budget. Between £10 million and £16 million of this is estimated to come from the effect of National Insurance changes alone. “It doesn’t assist with the mental stress and health and wellbeing of our residents.” The council’s revised funding shortfall over the next three years is expected to be £64 million and the current in-year funding shortfall is forecast at £4.4 million.
The council will work on their Medium Term Financial Strategy to find ways it can generate additional income to offset budget gaps until 2029. The cabinet did not confirm any increase in council tax today, but an increase could help bridge funding gaps.
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