The budget is the first for the new Broxtowe Independents Alliance administration.
In doing so, the budget ensures the council tax increase remains low when compared to other authorities at just £5.51 for the full year for a band D property.
Coun Greg Marshall (Brox Alliance), deputy leader and portfolio holder for resources and personnel policy, said: "Despite the continued financial pressures to both local councils and local people we’re really proud to be delivering a budget where there are no cuts to services for our Broxtowe residents.
"In 2025-26 we will keep on providing for our communities.
Although residents will see their overall council tax rise, for the portion of their bill that is paid to Broxtowe Council to support its services, most residents will pay less than £5 more for the whole year.
"The new budget is also focused on continuing to invest in the local area to support sustainable investment and growth, not least our significant town centre regeneration schemes, our flagship affordable housing programme, investment in parks and open spaces and projects that underline our commitment to the environment as part of our climate change and green futures programme.
"Our budget gap for 2025-26 now sits at £1.28m which we have driven down by more than 30 per cent of what was predicted in autumn 2024.
"We will be able to meet this from general fund reserves, meaning that we can keep the proposed council tax increase as low as possible at 2.94 per cent, which is below the headline inflation rate.
"The Broxtowe Alliance remains committed to campaigning for the fair funding of local government based on our residents needs, and will continue to fight against austerity to secure the best deal for our borough.’
Key points from the budget announcement include:
- No compulsory redundancies or cuts to front-line services.
- Ongoing significant investment in the Housing Delivery Plan three-year capital programme, which will enable people to live well.
- An increase in Housing Rents of 2.7 per cent coupled with a freeze on garage rents and other service charges, allowing more money to be invested back into our housing stock and services.
- A below-inflation increase in Broxtowe’s element of council tax.
- A regeneration programme which includes significant local investment in the Kimberley Means Business project (£16m) and new allocations from the UK Shared Prosperity Fund which will include a number of exciting projects in Eastwood.
- Continued funding to help support the climate change and Green Futures Programme to tackle climate change and reduce our carbon emissions to carbon neutral by 2027.
- Continued support for people with disabilities through the Disabled Facilities Grant scheme.
- Funding for community and safety initiatives.
- Continued work with the voluntary and community sector.
Visit broxtowe.gov.uk/costofliving for information and advice on managing the cost of living.