Budget Council faces a £117m black hole in finances in five years

BRISTOL City Council faces a mammoth £117 million budget shortfall in five years’ time.

- Adam POSTANS Local Democracy Reporter

And the funding gap for the upcoming 2026/27 financial year beginning in April stands at £20.8 million.

The figures, which are outlined in the authority's rolling five-year financial forecast called the medium-term financial strategy (MTFS), were revealed to councillors at the strategy and resources committee this week.

They represent the expected shortfalls before the council considers new savings and income plans - which it must do to set a balanced budget as required by law - and is the difference between the money it expects to raise and what it will need to spend to continue current service levels.

Cllr Patrick McAllister told the meeting that the organisation's ability to make sound financial plans was “held hostage to the central government's timetable’.

A report to the committee said: “This MTFS identifies a cumulative peak funding gap of £117.1million by the final year of the 2026/27 to 2030/31 period, with a funding gap of £20.8 million in 2026/27.