Lancashire County Council has issued a revised financial forecast that includes a £160m overspend by 2026/27
Members of Cabinet have been told that, because of prudent financial planning in recent years, the financial health of the council is good.
Based on the current forecast, this is expected to rise to a shortfall of £87m for 2023/24, rising to £159.678m by 2026/27. “There is still a lot of uncertainty about what will happen to finances nationally, and we will be keeping an extremely close eye on the situation, but as a responsible administration we feel it is important we act prudently now.
“I’m clear that our first approach is to maximise efficiencies and increase income across the council to narrow the funding gap.
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