Gloucester City Council is set to discuss its budget for 2019/20, with proposals aimed at maintaining services and providing £5 million for the planned revamp of King's Square.

The proposed budget will be agreed later today (28th February) at the council's budget meeting. The total budget will be £14.21 million and sets out how £250,000 savings will be made over the next financial year.

The amount of savings required has been reduced, due to the council's investment in King's Walk shopping centre, which has generated an increase in rental income for the council.

The savings target will be achieved mainly by increased property income, accommodation savings from the move to Shire Hall and energy efficiency measures. It will not mean a reduction in staff or the services provided to residents.

And the budget maintains a commitment to carry out regeneration in the city, with a capital programme expenditure of £9.720m. This will include investment in key projects such as the King's Square development and a number of housing projects.

Following a public consultation, which showed that the majority of residents were prepared to see a small increase to council tax in order to protect vital services, it is proposed that a 2.99 per cent rise in council tax would be introduced.

Cllr Paul James, leader of Gloucester City Council, said: "While we are facing continued financial challenges, we have been resourceful and looked for new ways of working, generating income and sharing services with other councils.

"As a result we are able to deliver a balanced budget that not only protects the services that matter to residents but enables us to continue the regeneration programme that is transforming our city. Approving the funding for King's Square is a key milestone in our ambition to start on site later this year."