Durham passes budget approving £159m property investments
Projects earmarked for the funds include Milburngate, NETPark, Aykley Heads, and the County Hall, although a hit was taken on previously agreed sustainable transport investment.
The joint administration budget for 2025/26 and a Medium Term Financial Plan until 2028/29 was passed yesterday.
Key lines in the budget include a capital investment of £158.687m, including:
- £55m (self-financed) for the Milburngate development
- £2.9m for the long-planned demolition of County Hall
- £12.7m to secure a major inward investment opportunity for NETPark
- £8m for investing in council buildings
- £1.8m for member neighbourhood and Community Network budgets
- £5.7m investment in essential digital infrastructure
- £2m to support the Children’s Sufficiency Strategy
- £2.5m investment in the Aykley Heads Joint Venture
- £2m to fund bridge works at Wolsingham
An amount of £23m was also designated towards the City Regional Sustainable Transport Settlement, which was significantly less than the £72.8m grant agreed with the previous government.
Cllr Amanda Hopgood, leader of Durham County Council, said: “The financial position for local authorities remains perilous, and there was a huge amount of work involved to present these proposals.
“It is testament to the diligence, and great effort and commitment, of the Joint Administration and many officers, that Durham County Council is able to set a balanced budget.
“These are very hard times for the council, made harder by a broken system for funding local government.
“We welcome the prospect of the Fair Funding Review, but we are under no illusion that it will solve every problem.
“However, this budget achieves the balance of protecting services, supporting the vulnerable, and investing in the future, which is a considerable achievement.
“It is shameful that County Durham Labour tried to bring a wrecking ball to the budget setting process at the very last moment…
“Failing to set a budget opens up the possibility of handing over the management of the council’s finances to people from elsewhere, who do not understand County Durham, and are less committed to the measures that we take to support our most vulnerable residents.”
