Buckinghamshire Council has proposed a maximum rise in council tax as it outlined £172 million worth of savings to balance its books until 2027.

The council’s proposed 2024-2025 budget includes a total council tax rise of 4.99 per cent – or an extra £1.69 per week for the average Band D property.

This is broken down into a 2.99 per cent rise in the base rate of council tax, with a further 2 per cent rise on Adult Social Care.

The council said it forecasts that by 2027, it will have saved nearly £172 million from savings and additional income since 2020 when it became a single unitary authority.

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Full proposals for the council’s 2024/2025 budget will be presented to the council’s scrutiny committee next week.

Council leader Martin Tett said: “Council budgets are under extreme pressure everywhere and it’s been very challenging to produce a balanced budget that takes us through to 2027.

“This won’t come without pain and a reduction in some services that people may notice and feel.”

The council leader said the authority’s financial plan maintains core services, while still investing in residents’ priority areas, without holding a referendum to increase council tax further.

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He added: “I know it will not be welcome news to our residents that bills will rise again from April, but we simply have no choice.

“Council tax makes up some 80 per cent of the funds needed to pay for our services and with costs and demands rising, despite large savings, so must our income.

“I know that this might cause worry for some households so I urge anyone who is worried about paying their council tax bill to get in touch with our team in the first instance as there is help and advice we can offer.”

The council’s plan comes at a time of “very significant extra financial pressure” due to rising costs and increased demand for services.

The authority is in a better financial position than many other English councils such as Birmingham and Nottingham, which issued Section 114 notices last year, declaring effective bankruptcy.

However, Buckinghamshire Council is still facing the same budget pressures as other councils on services such as social care, temporary accommodation and home to school transport.

These services, which help the most vulnerable, are statutory, meaning the council is legally obliged to fulfil them.

To balance its budget and help reduce long term costs, the council has proposed further investment in additional children’s homes, as well as savings in adult social care by providing help for some residents to live more independently.

The council is also set to sell its King George V offices in Amersham and is considering selling the County Hall building – or Walton Street Tower – in Aylesbury.

The council’s proposed spending over the next four years includes:

£105 million on the highways network

£25 million on supporting housing and homelessness

£14.7 million on climate change and flood management projects

£37.6 million on economic growth and regeneration projects

Overall, the council proposes spending £656.4 million on capital projects.