£1 billion of funding housing pledged for Bristol

Bristol City Council has agreed a budget that commits over £1 billion of funding to deliver much-needed affordable and social housing in Bristol, whilst protecting frontline services.

The agreed budget sets aside over £431 million to spend on frontline services such as social care, libraries and children centres. Over £1.9 billion was agreed as part of the council’s capital budget to invest in major projects, with the vast majority earmarked for delivering more affordable and social housing.

Marvin Rees, Mayor of Bristol, said: “This budget prioritises access to the services people need the most and sets out a substantial investment in tackling the housing crisis that persists in the city. Despite the increasing pressure put on our finances, we’ve continued to protect those most in need by fully funding our council tax reduction scheme and ensuring funds are available for those in crisis. We would like to do more but the short-term nature of government funding of local councils and the financial impact of the pandemic forces us to focus our efforts on those who need it the most.

“We expected to have to negotiate and make some compromises to get this budget agreed. Where we felt that good ideas were being put forward with thought-out plans for funding, we’ve worked with party groups to include these. We all have a responsibility to deliver on this budget and ensure our priorities of tackling the climate and ecological emergencies, delivering homes and supporting those in need are met.”

The agreement has also seen Bristol City Council approve a 2.99 per cent rise in Council Tax that includes a one per cent precept aimed at generating funding for adult social care services. The increase in council tax will take effect from 1 April 2022 and appear on the next round of bills residents will receive in the coming weeks.

Over £127 million was also approved as part of the council’s Housing Revenue Account budget. This fund, made up of money received in rent for council housing and services provided to tenants, is used to manage, maintain and deliver council housing.