As local authorities prepare their budgets for 2022-23, the same goes for the Cardiff City Region. Their budget and business plan will be discussed at a meeting next week.
The City Region proposes a budget of £2.86million for its own running costs in 2022-23 (pdf). The majority of this funding will go towards staffing– which has also seen the biggest increase in spending. The report says this is down to several new projects being brought forward.
The 10 member local authorities will chip in a combined £1.2million, with the rest top-sliced from the wider investment fund.
In total, the city region’s budget will increase by just under 29% compared to 2021-22.
As mentioned, also up for discussion is the city region’s business plan (pdf), which provides an update on the city region’s goals for the 2022-2027 period.
Some of the priorities for the city region include:
- Growth strategies and lead organisations in place in financial technology (“fintech”), the creative industries (a separate report on a proposed media cluster is due to be discussed – pdf) and semi-conductors.
- Electrification of the Core Valley Lines as part of the South Wales Metro and the continued rollout of the Metro Plus programme (which includes the proposed new bus station in Porthcawl).
- Increase electric vehicle charging infrastructure.
- Up average broadband speeds across the 10 member local authorities to the UK average.
- A measurable increase in affordable housing and industrial/business developments north of the M4 (including Maesteg Ewenny Road).
- Increase the retention of graduates in the city region and cut the number of people leaving school without qualifications.
- A “flagship” investment in transport decarbonisation, domestic retrofits, industrial decarbonisation and renewables.
- Continue work to establish a Corporate Joint Committee during 2022-23 and begin work on a strategic development plan and strategic transport plan.
