Council may sell assets to tackle £114m shortfall

Medway Council have said they want to raise revenue through selling buildings rather than cutting services

A cash-strapped council may sell disused buildings and small plots of land to tackle a predicted £114m budget shortfall.

Medway Council said it would prioritise raising revenue through higher charges and selling buildings rather than cutting services.

The need for savings was highlighted after a recent report said the council could overspend between £24.7m and £31.3m each year for the next four financial years if it continued its current spending.

Despite the council's risk of filing for bankruptcy decreasing from last year's rating of “very likely”, councillors said there were still serious challenges, the Local Democracy Reporting Service (LDRS) said.

Tracey Coombs, the council's portfolio holder for education, said the council had to "look at innovative ways" of providing services.

She added it may have "some really difficult decisions to make".

The councils portfolio holder for business management, Zoe Van Dyke said: "Discussions have already begun about assets we own that we don’t necessarily need."

The LDRS reported the council have until February to reduce costs or raise more revenue in order to form a balanced budget for the next year.

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