Most finance teams will, by now, either have published their accounts or be applying finishing touches and getting ready for the auditors. From the statements published to date, revenue reserves have increased at the majority of councils. My view is that this is only a temporary boost due to unspent COVID grants and last week’s Section 114 notice for Slough Council is a timely reminder of the continuing financial stresses across the sector.

I am about to get stuck into our medium-term financial strategy at a time of incredible uncertainty in local government funding and finances. Anticipated reductions in business rates and the New Homes Bonus, coupled with uncertainties about the longer-term financial impact of COVID on fees, charges and service demands will call for careful decisions to deliver sustainable, balanced budgets.