"Yesterday's Budget contained a number of announcements that could have important implications for Colchester, particularly around economic growth, housing and investment in local areas. We will be reviewing the detail carefully to understand what these measures mean for our residents, businesses and communities.
“As one of the country's fastest-growing cities, Colchester has ambitious plans to deliver new homes, support local businesses, strengthen our city centre, invest in infrastructure and create opportunities for residents across our communities. We are already seeing significant investment and regeneration across the city, and any measures that help unlock further growth and local investment are welcome.
“The Government's commitment to giving places more control over how investment is directed aligns with our longstanding view that decisions affecting local communities are often best made locally. We will work closely with our partners across Essex and the wider region to understand how new funding programmes and growth initiatives can help accelerate regeneration, support local businesses and attract further investment into Colchester.
“We are encouraged by measures aimed at stimulating economic growth, supporting high streets and town centres, and increasing housing delivery. These are priorities that reflect the work already under way in Colchester to create a thriving city that offers opportunity, prosperity and a high quality of life for everyone.
“With major developments progressing across the city and strong partnerships across the public, private and voluntary sectors, Colchester is well placed to make the most of measures that support local growth and investment. Our focus will be on ensuring that the benefits of this growth are felt by residents across every part of our city.
“At the same time, councils continue to face significant financial pressures. While yesterday's Budget takes positive steps on housing and homelessness, local authorities are dealing with rising homelessness, increasing demand for support services and the growing cost of temporary accommodation with falling real terms income. We would have liked to see further long-term investment and reform to help councils tackle the root causes of homelessness and provide sustainable support for those who need it most.
“We will continue to assess the full impact of the Budget on local government funding and council services. As always, our priority remains delivering value for residents, supporting those who need our help most, and ensuring Colchester continues to be a place where people and businesses can thrive.
“We also note the announcement regarding potentially devolving business rates to Mayors. That may be welcome but if power is truly to be devolved, Mayors must have the power to set business rates and the criteria around them including reductions where and when they think appropriate.
“We will work with local partners and businesses where opportunities arise to turn yesterday's announcements into tangible benefits for the people of Colchester."