The price of ‘a cup of Costa coffee’, is the increase Ryde residents are facing to their council tax precept, says Ryde Town Council (RTC)’s finance chief.
RTC has set its budget for the 2022/23 financial year and bill payers in the town will pay 2.5 per cent more from April.
For the average Band D payer, the precept will increase from £149.56 a year to £153.34 — £3.78 more.
Speaking at the meeting yesterday (Monday), chair of Ryde Town Council’s finance committee, Cllr Phil Jordan, argued the increase would be an additional 7p a week and would equal the price of a Costa coffee.
He said, with inflation standing at nearly five per cent, the increase could actually be seen as a reduction in RTC’s spending.
The proposal was unanimously approved.
Ryde Mayor, Cllr Michael Lilley, said the budget would see a range of opportunities ‘actually happen’ in the town, over the next few years.
Included in the budget is £8,000 towards the first year running costs of Ryde Harbour, which the town council will take over from the Isle of Wight Council on April 1.
Meanwhile, a proposal by Cllr Lilley will see each of the council’s 16 members get £250 for their ward, to put towards community projects.
The precept rise follows a big increase in 2021/2022 of 8.9 per cent extra – to fund projects, including the purchase and refurbishment of some of the town’s iconic buildings.
The Isle of Wight Council sets its budget – and the main part of the monthly bill – in a few weeks. It has already been hinted the controlling Alliance administration is looking to increase payments by two per cent.
Other town and parish councils across the Island are in the process of setting their budgets, which could see more tax increases, while a more than four per cent police precept rise has also won approval.
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