Cabinet resolved to:
(i) Agree the Council’s MTFS as detailed in the report and note the projected circa £72m budget shortfall from 2016/17 through to 2020/21;
(ii) Agree to the creation of the Ambition 2020 programme as the vehicle for identifying options to close the projected budget gap and deliver the Council’s ambitions;
(iii) Agree the allocation of £1m to fund the initial stages of the Ambition 2020 programme;
(iv) Agree to allocate up to £0.5m from reserves to fund the Growth Commission;
(v) Note the impact of the Chancellor’s Emergency Budget on 8 July on the Council’s in-year position; and
(vi) Agree that officers commence a savings process in respect of the 2016/17 budget gap of £5.71m, in the first instance working these up as “quick wins” in the Ambition 2020 programme.