Residents for Uttlesford (R4U) has announced that its manifesto promise to restructure Uttlesford District Council (UDC) finances is ahead of schedule and will generate additional income of several £millions to fund key programmes in this and subsequent financial years.
Cllr Hargreaves continued “We set up a cross-party Investment Board to oversee the quality and governance of the council’s commercial investments. These are all freehold land and buildings, with rental income from good quality tenants. We are pleased to say that UDC’s investment programme is now ahead of schedule. In fact the financial hole has been filled and UDC will generate an additional income of £2million this year, which will increase in subsequent years. It is forecast that by the end of this council term in 2023, UDC’s investment income will be equal to the total district council tax revenue of about £7million a year. This is a great result for taxpayers.”
Cllr Lodge concluded “The significant additional income will be used by UDC to accelerate a number of the programmes that residents elected us to deliver. These will be announced by UDC over the next few months. It will also create important cash reserves to buffer the council from the prolonged impacts of Covid. Residents can be assured that we are working hard to generate more value from their council taxes.”
About Residents for Uttlesford
Residents for Uttlesford (R4U) is the local independent party of north-west Essex towns and villages. Formed in 2014 by a number of residents’ groups, the party believes that on local issues residents should decide, not Westminster parties. R4U’s success has been based on the desire to give local people a voice and implement long range strategic and sustainable plans for their area.
R4U leads Uttlesford District Council (UDC). In its first election in 2015 it became the second party at UDC. In the May 2019 R4U gained majority control of UDC winning two-thirds of the seats. The result delivered the biggest loss of seats by any UK Conservative controlled council in the UK. In 2021 the party won half the Essex County Council seats in Uttlesford district.
R4U also leads Saffron Walden Town Council, where under its stewardship the council has rebuilt finances, invested in community assets, and won multiple awards, including the best run council in Essex. It is a minority party on Great Dunmow Town Council.
Residents for Uttlesford can be found on the web at www.residents4u.org.